Image Credits: Imago Images
RedBird Capital Partners, the US-based private equity firm founded by financier Gerry Cardinale, continues to expand its influence across global media and sports.
The firm has already carved out a significant footprint in British football through its 11% minority stake in Fenway Sports Group, making it an indirect part-owner of the Reds.
Beyond football, RedBird has been quietly building a vast media empire, recently acquiring Paramount Global alongside Skydance Media.
Now the firm has its sights set on another major British institution: The Telegraph newspaper.
According to a report from the Financial Times, RedBird has lined up with US investment giant Apollo to provide the crucial debt financing for its £500 million takeover of the historic publication.
The move secures funding ahead of an expected government decision on whether the deal should be referred to the competition watchdog and media regulator Ofcom – a decision expected this month.
The newspaper has been on the market for over two years following Lloyds Banking Group’s decision to force the newspaper’s parent company into insolvency due to unpaid loans by the Barclay family, who previously owned the title.
A previous attempt by RedBird to acquire The Telegraph in 2023, in partnership with Abu Dhabi state-owned investor IMI, was blocked following political outcry over foreign ownership concerns.
This time, the structure has been recalibrated to meet regulatory requirements.
Under the new consortium arrangement, RedBird will remain the largest investor, while other major players, including Lord Rothermere’s DMGT (owner of the Daily Mail) and billionaire Sir Leonard Blavatnik, are expected to take minority stakes.
RedBird Capital Partners has proven its financial muscle by securing £500 million in backing for The Telegraph acquisition.
It’s a stark reminder of just how much capital the New York-based firm has at its disposal, but it also raises the question as to whether the Reds will benefit from this growing financial firepower.
RedBird also has a stake in Ligue 1 outfit Toulouse, and with FSG’s sights on a multi-club strategy, perhaps the appetite could grow there as it did with RedBird’s growing media empire.
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