Lord Saatchi, amongst others, considering a bid for The Telegraph
Can a consortium formed by the advertising mogul revive the prestigious newspaper?
Words: Charlie Bentley
Lord Saatchi, the advertising legend known for propelling Margaret Thatcher to power, is contemplating a bold bid for The Telegraph. The media world is frantic with speculation about the potential for an acquisition.
According to multiple sources, Lord Saatchi is in discussions to form a consortium for the bid. His rumoured partner in this venture is Lady Lynn Forester de Rothschild, a former director of The Economist Group. The duo has reportedly been in talks with several financial backers, although details remain elusive, and insiders caution that these discussions may not culminate in a definitive offer. So far, Abu Dhabi-backed RedBird IMI investment fund has received several bids for the Daily Telegraph; it is expected that the assets in total will sell for over £600 million. Yet, financial analyst Alice Enders, a media analyst at Enders, has stated that it's “a stretch” to state that the whole newspaper group is worth this much.
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