“More than 20 years ago, we tried to acquire The Telegraph and did not succeed,” said Axel Springer’s chief executive officer Mathias Döpfner in Friday’s statement. “Now our dream comes true. To be the owner of this institution of quality British journalism is a privilege and a duty.”
(March 6): German media group Axel Springer SE has agreed to buy UK newspaper publisher Telegraph Media Group for £575 million in cash, torpedoing a rival bid from Daily Mail & General Trust plc.
Any deal will need be approved by the UK government and competition regulator, the companies said in a statement on Friday.
