Uncertainty looms over future of Telegraph Media Group as potential sale and administration loom.
The Telegraph Media Group, which owns the Daily and Sunday Telegraph newspapers and The Spectator magazine, is set to be put up for sale due to debts owed by its parent group. Lender Lloyds Bank is unlikely to recover the original value of the loan, worth hundreds of millions of pounds. The bank has placed B.UK, a Bermuda-based holding company controlled by the Barclay family, into receivership. The investment bank Lazard has been appointed to start exploring options for the sale.