BIG ROTHER IS WATCHING …
YET more twists in the tortuous saga of the sale of the
Telegraph
, as the bid by RedBird Capital to take full control imploded in the face of editorial sabotage and it then emerged that Lord Rothermere’s Daily Mail and General Trust (DMGT) is now back in the race and has signed an exclusivity agreement – the third one so far – with impotent owner RedBird IMI.
The Mail announced that this would “give much-needed confidence to Telegraph employees after years of uncertainty about the title’s future”. But many mysteries remain. In recent weeks even the Telegraph itself has admitted that IMI had vastly overvalued the paper at £500m, and that £350m was a more realistic price, with a panic over whether that would leave the papers themselves on the hook for the £150m shortfall.