European media group Axel Springer has completed its £575 million acquisition of Telegraph Media Group (TMG), bringing to an end three years of uncertainty over the ownership of the 172-year-old British newspaper titles.
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The Germany-based company said it had received all necessary regulatory approvals in the UK, Ireland and Austria, allowing it to take full control of the publisher.
Axel Springer secures Telegraph ownership
Chief executive and controlling shareholder Mathias Döpfner described the completion of the deal as a significant milestone, saying the company and the Telegraph shared a commitment to press freedom, innovation and shaping the future of journalism.
Digital growth plans
The Telegraph will join Axel Springer's portfolio, which includes German newspapers Bild and Die Welt, along with digital news outlets Politico and Business Insider.
Döpfner said the company plans to use its digital expertise to accelerate the Telegraph's digital transformation, including expanding its presence in the United States. He has previously said his ambition is to make the Telegraph the leading centre-right English-language news organisation.
He also said the acquisition would strengthen the company's AI-powered digital strategy while maintaining trusted journalism.
Döpfner reiterated that the editorial independence of the Telegraph titles would remain "sacrosanct" and confirmed his support for the existing leadership team, including editor-in-chief Chris Evans, Sunday Telegraph editor Allister Heath and chief executive Anna Jones.
Evans welcomed the completion of the takeover, saying the company had endured three difficult years without long-term owners and now looked forward to pursuing new opportunities for growth in the UK and overseas.
Three years of ownership uncertainty
The sale process began in 2023 after the Barclay family lost control of Telegraph Media Group over £1.16 billion in unpaid debts owed to Lloyds Bank.
A joint venture, RedBird IMI, which was 75% backed by Sheikh Mansour bin Zayed Al Nahyan, vice-president of the United Arab Emirates and owner of Manchester City, initially took control after agreeing to repay the Barclays' debts.
However, the British government later introduced legislation preventing foreign states or state-linked investors from owning UK newspaper assets, forcing RedBird IMI to sell the titles. The new rules also introduced a 15% cap on foreign state influence in newspaper ownership.
A consortium led by RedBird Capital, RedBird IMI's junior partner, offered £500 million for the newspapers last year but withdrew from the process in November.
Late bid beats Daily Mail owner
After RedBird Capital's withdrawal, Daily Mail & General Trust (DMGT) moved close to acquiring the Telegraph after receiving government approval to assume the right-to-buy option from RedBird IMI.
However, Axel Springer entered the process with a late offer worth £575 million, exceeding DMGT's bid by £75 million. Combined with what was seen as a straightforward regulatory approval process, the proposal was accepted by RedBird IMI, clearing the way for the German media group to become the Telegraph's new owner.
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Adapted by ASEAN Now. Source 30 June 2026