{"id":96853,"date":"2024-09-27T05:03:41","date_gmt":"2024-09-27T05:03:41","guid":{"rendered":"https:\/\/chezaspin.com\/blog\/index.php\/2024\/09\/27\/daily-telegraph-tipped-to-go-to-us-bidder-at-auction\/"},"modified":"2024-09-27T05:03:41","modified_gmt":"2024-09-27T05:03:41","slug":"daily-telegraph-tipped-to-go-to-us-bidder-at-auction","status":"publish","type":"post","link":"https:\/\/chezaspin.com\/blog\/daily-telegraph-tipped-to-go-to-us-bidder-at-auction\/","title":{"rendered":"Daily Telegraph tipped to go to US bidder at auction"},"content":{"rendered":"

The owner of the politically right-leaning New York Sun has emerged as the favourite to acquire the Daily and Sunday Telegraph ahead of Friday\u2019s deadline for bids.<\/strong><\/p>\n

Though a late entrant to the auction British-born Dovid Efune\u2019s BID is considered by several parties as the potential new frontrunner.<\/p>\n

He is thought able to offer a competitive bid of around \u00a3550m while not attracting the political and regulatory objections that saw a bid backed by the United Arab Emirates ruling family blocked by the government.<\/p>\n

Mr Efune is one of only two bidders to have attended senior management presentations at the Telegraph.<\/p>\n

The Telegraph is back up for sale after an audacious attempt backed by Redbird IMI \u2013 a vehicle largely funded by Manchester City owner Sheikh Mansour \u2013 to take ownership of both the Telegraph and the Spectator by paying off the previous owner\u2019s debts collapsed.<\/p>\n

The bid was vetoed by the previous Conservative government, who balked at the idea of a foreign state having majority ownership of politically influential UK newspapers and periodicals.<\/p>\n

Titles like the Telegraph and the Spectator don\u2019t come up for sale very often and are considered \u201ctrophy assets\u201d.<\/p>\n

Assets like this have prestige and influence, which means they command a higher price than their financial performance alone can justify.<\/p>\n

Redbird IMI effectively paid \u00a3600m for both titles with many thinking they had overpaid.<\/p>\n

However, Sir Paul Marshall paid \u00a3100m for the Spectator alone despite the fact it only makes around \u00a32m in profit a year.<\/p>\n

That valuation has fuelled optimism at Redbird IMI that the Telegraph, which makes a profit of over \u00a340m, will fetch \u201cnorth of \u00a3500m\u201d.<\/p>\n

If so, the Gulf bidders will be able to walk away from their attempted swoop without damage to their wallets or dignity.<\/p>\n

It is expected to take several weeks or even months for the ownership to be settled as various legal and regulatory hurdles are cleared.<\/p>\n

The post Daily Telegraph tipped to go to US bidder at auction<\/a> first appeared on KBC<\/a>.<\/p>\n

The post Daily Telegraph tipped to go to US bidder at auction<\/a> appeared first on KBC<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

The owner of the politically right-leaning New York Sun has emerged as the favourite to acquire the Daily and Sunday Telegraph ahead of Friday\u2019s deadline for bids. Though a late entrant to the auction British-born Dovid Efune\u2019s BID is considered by several parties as the potential new frontrunner. He is thought able to offer a […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-96853","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/96853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=96853"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/96853\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=96853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=96853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=96853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}