LONDON: German media group Axel Springer said on Friday it had agreed to buy Britain’s Telegraph Media Group for 575 million pounds ($766.3m) in cash, bringing to an end a prolonged period of uncertainty over the newspaper’s ownership.

The deal gatecrashed Daily Mail owner DMGT’s attempt to buy its broadsheet rival, which had been facing regulatory probes in Britain amid concerns about media plurality.

Axel Springer said it would preserve the Telegraph’s legacy while providing a platform for expansion, including in the US, and reaffirmed its commitment to “high-quality, independent journalism” and media plurality in Britain.

‘Swift negotiations’

Mathias Dopfner, Axel Springer’s CEO, said owning the Telegraph was “a privilege and a duty”.

He said the group aimed to grow the title while preserving its character and helping it to become “the most read and intellectually inspiring centre-right media outlet in the English-speaking world”.

He acknowledged Telegraph staff had faced a prolonged period of uncertainty and said that the publisher intended to “bring that uncertainty to an end”.

The company credited New York Sun publisher Dovid Efune for his support in the deal.

Efune led a consortium with Axel Springer to bid for the titles last month, but Axel Springer concluded the deal alone.

RedBird IMI said it was pleased to have reached agreement following “swift and efficient” negotiations.

“With the strength of their commercial offer and a straightforward regulatory path to ownership, we believe that Axel Springer is well placed to take the Telegraph forward into its next chapter,” RedBird said in a statement.

The companies said they were now working with the British government to obtain the necessary approvals.

Published in Dawn, March 7th, 2026