Telegraph Faces £278m Loss Due to Unrecoverable Barclay Family Loans

Ownership uncertainty and financial irregularities cloud the future of the Telegraph Media Group despite subscription growth.

The Telegraph Media Group reported a £244.6m loss in 2023, largely due to a £278m provision for unrecoverable loans to the Barclay family.
Turnover increased by 5% to £268m, driven by a rise in digital subscriptions and advertising revenue.
The ownership crisis began when Lloyds Bank seized control over unpaid Barclay family debts, leading to an aborted sale to a UAE-backed consortium.
Potential irregularities in historical transactions have drawn interest from HMRC and the National Crime Agency.
Despite financial challenges, the Telegraph surpassed one million subscriptions and won 'News Website of the Year' for the second consecutive year.