RedBird plans to grow The Telegraph’s presence internationally, especially in the US, by using its strong brand and trusted journalism to attract more readers looking for reliable news.
RedBird Capital Partners has announced that it reached an in-principle agreement to acquire The Telegraph Media Group at a total enterprise valuation of £500m, becoming the sole controlling owner.
RedBird’s growth strategy will include capital investment in the group’s digital operations to continue driving subscriptions, using data analytics and AI tools to expand the value proposition to its core subscriber base and potential new subscribers.
RedBird will build on the strong financial foundations established by the current management team and will work with them to grow the brand internationally, with a focus on the US, where RedBird has a strong strategic presence across news, media and sports.
Together, RedBird and TMG senior leadership will work to develop new content verticals in areas such as travel and events to maximise the commercial opportunities from a growing international and mass affluent subscriber base.
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Gerry Cardinale, Founder and Managing Partner of RedBird, said, “This transaction marks the start of a new era for The Telegraph as we look to grow the brand in the UK and internationally, invest in its technology and expand its subscriber base.”
“We believe that the UK is a great place to invest, and this acquisition is an important part of RedBird’s growing portfolio of media and entertainment companies in the UK. Having now spent time with Chris Evans, Anna Jones and the entire senior management team at The Telegraph, we have tremendous conviction in the growth potential of this incredibly important cultural institution.”
Chris Evans, Editor of The Daily Telegraph, said, “The Telegraph has made enormous progress in recent years since the launch of its digital subscriptions strategy, thanks to the hard work of its brilliant staff.”
“But there is much more that can be achieved. With the right plan and the right investment by ambitious new owners, this venerable title can look forward to an era of unprecedented success.”
Anna Jones, CEO of Telegraph Media Group, said, “Telegraph Media Group is an award-winning news media organisation, with exceptional journalism at its heart, supported by leading commercial expertise, a commitment to innovation and a laser focus on data to drive strategy.”
“RedBird Capital Partners have exciting growth plans that build on our success – and will unlock our full potential across the breadth of our business.”
A key part of RedBird’s strategy is expanding The Telegraph’s global reach, particularly in the US, leveraging the title’s iconic brand and authoritative reporting to drive new audiences seeking world-class independent journalism.
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