UK (Parliament Politics Megazine) – RedBird Capital Partners seeks UK approval to buy The Telegraph for £500 million, with Abu Dhabi’s IMI holding 15%. Founded by Gerry Cardinale, RedBird manages $12 billion globally.
As Reuters News reported, RedBird Capital Partners has requested approval from the British government to acquire The Telegraph on Friday, October 10, 2025. The deal is valued at about £500 million ($667.5 million) and would give RedBird full ownership of the newspaper.
International Media Investments (IMI) from Abu Dhabi will take part as a minority investor, holding no more than 15%. Officials mentioned that this limit follows new UK rules that restrict foreign state-backed involvement in national media. The law was introduced to protect media independence and national interests from outside control.
What does RedBird’s £500m bid mean for the future of The Telegraph?
According to officials, the plan aims to resolve the uncertainty surrounding The Telegraph and The Spectator. Both publications have faced ownership issues since IMI’s earlier attempt to buy them in 2023 was blocked by the government. The deal will be reviewed under the National Security and Investment Act, which monitors foreign-linked investments in key industries.
“This is an important step forward in the process as we look to end the uncertainty at the Telegraph,”
RedBird said in its internal statement.
“Our conviction in the potential of the Telegraph has never wavered, despite the tremendous challenges all journalism endeavours face in the wake of artificial intelligence, social media news consumption and the ongoing technological disintermediation that threatens all intellectual property-based businesses.”
The Department for Culture, Media and Sport confirmed that it has received RedBird Capital Partners’ official request to move ahead with the purchase of The Telegraph. The department did not give any further comment, saying the review is still in progress.
RedBird, founded in 2014 by former Goldman Sachs partner Gerry Cardinale, manages around $12 billion in global assets. The firm holds investments in AC Milan, Skydance Media and is involved in a pending merger with Paramount Global.
The dispute over the ownership of The Telegraph started in June 2023 when International Media Investments (IMI) from Abu Dhabi and RedBird Capital Partners began talks to buy the newspaper group from the Barclay family, who had owned it since 2004 but were struggling with debts to Lloyds Banking Group. The UK government issued a Public Interest Intervention Notice in January 2024 to review the deal, raising concerns about foreign state influence and media independence.
In March 2024, new rules were introduced, limiting foreign state-backed investors to a 15% stake in UK newspaper publishers. The rule change followed months of political debate over the independence of the British press and concerns about possible foreign influence on national media.
Lawmakers had warned that ownership by foreign state investors could raise questions about editorial freedom. The government said the new limit offers a balance between attracting investment and protecting press independence. This change led to a new agreement that allows RedBird to take full ownership while IMI stays as a small investor. The revised deal, announced in October 2025.