Daily Telegraph Publisher Sold To Axel Springer For $761M

The publisher of The Daily Telegraph‘s sale to Germany’s Axel Springer for £575M ($761M) has completed.

The deal brings to and end a long period of uncertainty at Telegraph Media Group (TMG), which publishes the 172-year-old Telegraph tabloid newspaper in the UK. It closed after regulatory approval was gained in the UK, Ireland and Austria.

Axel Springer, owner of German tabloid Bild and dozens of other titles such as Politico and Business Insider, is planning for TMG “accelerated digital transformation, leverage AI to support innovation and growth, continue to develop its journalistic excellence, and expand into the U.S. market.”

”Today is a day we have worked towards for a long time, and one we will always remember,” said Axel Springer CEO Mathias Döpfner. “Axel Springer was founded in 1946 under a British press license, and The Telegraph was our North Star.

“Axel Springer and The Telegraph share strong commitments to freedom, values, a tradition of embracing and pioneering technological change, and an entrepreneurial will to actively shape the future. This creates a strong foundation for further accelerating our AI-powered digital transformation. Together we can lead the next generation of trusted media.“

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