Deals
Murdoch’s News Corp. Eyes Joint Telegraph Bid With Rivals
- Murdoch’s News UK, Daily Mail owner held back-channel talks
- Structure could mean UAE-backed fund left with smaller stake
Copies of The Daily Telegraph newspaper on a newsstand in London.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Rupert Murdoch’s News Corp. and the publisher of the UK’s Daily Mail tabloid are weighing an offer for the company that owns the Telegraph newspaper and Spectator magazine, alongside United Arab Emirates-backed investment fund RedBird IMI, people familiar with the matter said.
Such a bid would reduce RedBird IMI’s ultimate stake in the Telegraph Media Group Ltd. and may ease UK government concerns over control of the legacy media outlet, said the people, who asked not to be identified because the discussions are private. Jonathan Harmsworth’s Daily Mail & General Trust Plc and News Corp.’s News UK unit have held back-channel conversations on how to structure a deal, they said.