Murdoch’s News Corp eyes joint Telegraph bid with rivals, Bloomberg News reports

By Thomson Reuters Mar 11, 2024 | 3:49 PM

(Reuters) – Rupert Murdoch’s News Corp and the owner of the Daily Mail have held talks about a potential joint takeover of the Telegraph alongside the UAE-backed investment fund RedBird IMI, Bloomberg News reported on Monday, citing people familiar with the matter.

A joint bid by the three would result in a smaller stake for Redbird IMI, according to the report.

The Abu Dhabi-backed buyout of the paper, which voices opinions within the governing Conservative Party, has provoked fears of foreign influence in news reporting which opponents say could threaten Britain’s democracy.

News Corp, RedBird IMI, the Daily Mail and the Telegraph did not immediately respond to Reuters requests for comment.

(Reporting by Ananya Mariam Rajesh amd Arunima Kumar in Bengaluru; Editing by Shounak Dasgupta)