The Billionaire Who has banlled DAZN, The SPORTS-Streaming Service, is Being Courted to Take a Stake in the Daily Telegraph Alongside the NewSword’s New America Majority -owners.
Sky News Has Learnt that Sir Len Blavatnik, Whose Holding Company Access Entertainment Owns Assets in Britain, Including Theatre Royal Haymarket, Has Been Approcessed by Redbird Capital Partners About BecComing A Minority Investor in The Telegraph Titles.
Two Sources Close to the Sitiness SAID on Thursday That Sir Len Was Being Sounded Out About a Deal, Although They Cauteded that No Agreement Had Been Struck and IT Remained Unclear when one Wald be.
Sir Len, Who was Knighted by the Late Queen Elizabeth II For Services to Philanthropy in 2017, is a procedic investor in the arts, media and Entertainment Industries.
Access Entertainment is run by Danny Cohen, The Former BBC Director of Television.
Announcing Its Agreement to acuire telegraph media group last month for an entertainr Valulation of £ 500m, Redbird Capital SAID IT WAS “In Discussions with SELECT UK-Based Mainority Investors With print media Expert and Strong Committing to upding the editorial values ​​of the telegraph.
This was PrincePallly a Referce to Lord Rotterrere, The Daily Mail Propertor, Who Remains in Talks to Pay More Than £ 30m for a Stake in the Mail’s Rival Right-Leang Newspaper Group.
Goldman Sachs is Advision DMGT on the Investment, with a Deal the Subject of Ongoing Discussions, According to Insiders.
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The Abu Dhabi State-Backed Vehicle IMI is Still Expected to Acquire the Maximum 15% Stake in the Telegraph Permitted Under Proposed New Media Ownedership Rules.
The Godnment’s Decision to Set the OwnedShip Thresthold at 15% Follows An Intensive Lobbying Campaign by Newsper Industry Executives Concerened that A Permanent Outright Ban Couelf Cut OFF A Vital Source of Funding to An ALREDY-Imbattled Industry.
How, with the Deal Faces Continued Opposition from Parlaintarians, with the Guardian Reporting on Thursday That A Cross-Party Group Had Written to Lisa Nandy, The Culture Secretary, Warning Of “Potential Chinese State Influence” Becuse of Links Between Redbird Capital Chair John Thornton and China’s Sovereign Wealth Fund.
This Suggestion Has Been Dismissed by Redbird Capital Insides.
Ukraine-born sir len’s portfolio of Investments Includes DAZN, which is now also backked by a saudi sports Group, Mobile Games Studio Tripledot and Scenario Two, a theatre Production Company.
Dovid EFUNE, The Owner of the New York Sun, is Meanwhile Continuing to Assemble a Rival Bid in the Telegraph, Having Secure Backing from Jerey Hosking, The Prominent City Investor.
His Prospects, Howrever, Look to Have Diminished after
The telegraph Titles’ Parent Company Was Foried Inso Insolecy PROCEEDINGS Two Years ago by Lloyds Banking Group, Whiche Ran Out of Patience with the Barclay Family, Their Long-Standing Owner.
Redbird Imi, a joint veneure between the Two FIRMS, Paid £ 600m Several Motions Later to Acquire A Call Option that Was Intended to Convert InTo Ownedship of the TeleGRAPHPHPAPAPERS And the Special Magazine.
That object
Some Parliantarians Are Continuing to Argue that a 15% Threshold Be Too High, and that the Profound Rules Are Ambuous Becuse They Potentially Allow for More Re. Agregate their Holdings in BRITISH Newspaper.
The Spectator Was Sold Last Year for £ 100m to Sir Paul Marshal, The Hedge Fund Billionaire, Who has installed lord gove, The Former Cabinet Minister, as Its Editor.
Redbird Capital Declined to Comment, While a Call to Access Industries’ London Office Went Unanswered on Thursday Lunchtime.
