Leo Barraclough International Features Editor Jeff Zucker, the former president of CNN and onetime CEO of NBCUniversal, is eying a push by right-leaning British newspaper The Daily Telegraph into the U.S.
if his company’s bid to buy the title is successful. An auction for the Telegraph Media Group, which includes magazine The Spectator, was halted this week when Zucker’s company RedBird IMI offered to clear the debts of the group’s previous owner, the Barclay family, totaling more than £1.1 billion ($1.38 billion), according to The Financial Times.
RedBird IMI is a joint venture between private-equity firm RedBird Capital, led by former Goldman Sachs partner Gerry Cardinale, and Abu Dhabi’s International Media Investments, a private investment fund run by Mansour bin Zayed al Nahyan.
Other bidders for The Telegraph include Rupert Murdoch’s News U.K., owner of London newspapers The Times and The Sun; Lord Rothermere’s DMGT, owner of London’s Daily Mail; and Paul Marshall, a hedge fund billionaire and co-owner of British television news channel GB News, The Financial Times reported.
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