According to Reuters, Belgium-based publisher Mediahuis has indicated interest in acquiring the conservative British newspaper The Daily Telegraph and its sister publication, The Spectator.
Earlier this month, the boards of the corporations that own the Daily and Sunday Telegraph and The Spectator announced the beginning of a sale process.
According to one of the sources, who spoke on the condition of anonymity because the sale is confidential, Goldman Sachs is advising on the transaction and has begun communicating with a list of potential buyers numbering in the double digits.
Based on a multiple of 8-10 times expected 2023 core earnings of 60 million pounds, Enders Analysis predicted last month that the Daily Telegraph titles may sell for between 480 million and 600 million pounds.
In a long-running dispute with the former owners, the Barclay family, over more than 1 billion pounds ($1.2 billion) in unpaid debt secured against the firms, Lloyds Banking Group seized control of the parent company in June, prompting the sale of the titles.
Some potential buyers, however, may be interested in bidding on both of the media companies even though they are being sold separately.
Goldman Sachs, Mediahuis, and the Daily Telegraph board all declined to comment through spokespeople.
Mediahuis is a privately held media conglomerate that was established in 2014. Its holdings include the Belgian and Dutch dailies De Standaard and De Telegraaf, as well as the Irish Independent and the Belfast Daily Telegraph.
According to a second source, the company is considering making a bid for other British operations.
In 2019, Mediahuis CEO Gert Ysebaert expressed interest in purchasing the Telegraph publications to the Financial Times.
In 2004, the Barclays paid 665 million pounds to acquire the Telegraph Media Group.
To date, we have heard from or about the following companies: National World (NWOR.L), Axel Springer (SPRGT.UL) of Germany, hedge fund creator Paul Marshall, and Czech billionaire Daniel Kretinsky.
Daily Telegraph the Flagship of The Telegraph Media Group
The Telegraph Media Group (TMG) is a British media company that owns and operates several well-known media outlets. As of my last knowledge update in January 2022, here are some key details about the Telegraph Media Group:
- The Daily Telegraph: The Telegraph Media Group is best known for its flagship publication, “The Daily Telegraph,” often referred to simply as “The Telegraph.” It is a prominent and long-established British newspaper with a conservative political stance. The Telegraph covers a wide range of topics, including news, politics, business, sports, and culture.
- The Sunday Telegraph: In addition to its daily newspaper, TMG also publishes “The Sunday Telegraph,” which provides in-depth coverage and analysis of news and events on Sundays.
- Telegraph.co.uk: The Telegraph Media Group has a strong online presence through its website, Telegraph.co.uk. The website features articles, news, and multimedia content, and it is an important platform for the publication’s digital offerings.
- Telegraph Events: TMG also organizes events and conferences on various topics, including business, finance, and technology. These events often feature expert speakers and panel discussions.
- The Telegraph Magazine: The Telegraph publishes a weekly magazine that covers lifestyle, culture, and other topics of interest to its readers.
- Other Ventures: The Telegraph Media Group has explored other media ventures, including various digital and multimedia offerings, but the extent and nature of these ventures may have evolved since my last knowledge update.
The Telegraph Media Group has historically been a prominent and influential voice in British journalism and is widely read for its coverage of national and international news. It has a reputation for its quality reporting and analysis.
Please note that the information provided is based on my last update in January 2022, and the organization may have undergone changes or developments since that time. I recommend checking the most recent sources for the latest information about the Telegraph Media Group.