Abu Dhabi-backed Fund's Bid to Acquire Bankrupt UK Publisher and Telegraph Newspaper
Jeff Zucker's investment group RedBird IMI has proposed a deal to acquire a bankrupt British publishing group, offering around $750 million to the Barclay family, owners of the Telegraph newspaper and Spectator magazine, to repay their debt to Lloyds Banking Group. RedBird would have the option to convert the loan into equity, while additional debt financing would come from International Media Investments. If approved, the deal would end the Barclay family's ownership of the Telegraph and Spectator. The proposal has raised concerns about foreign influence over British publications and will be subject to regulatory review. Zucker has been actively seeking deals, including a potential purchase of CNN.
