The British media group The Daily Telegraph, one of Britain’s leading newspapers and owned by the Barclay family since 2004, was put up for sale on Friday to pay off huge debts, with several potential buyers’ present.
A statement issued by the Telegraph Media Group stated that “the Board of Directors of the parent companies of the Telegraph Media Group and The Spectator magazine announce that their advisors will launch, Friday the sale process for each of these two institutions”.
Goldman Sachs is managing this operation, according to several British media outlets.
In June, Britain’s Lloyds Bank and its subsidiary Bank of Scotland indicated they intended to put the group up for sale to pay off outstanding debts.
Earlier in October, the Barclay family unsuccessfully tried to make a last-minute bid to pay off debts worth around £1 billion (1.15 billion Euros) and regain control of the group, which also includes the Sunday Telegraph and The Spectator Magazine.
Axel Springer Media Group, Germany’s largest publisher and owner of Bild newspaper, is among the potential badges, as is the Telegraph’s rival DMGT (Daily Mail and General Trust), the parent company of the Daily Mail, the widespread right-wing trend.
The sale of Telegraph assets could bring in about 500 million pounds (573 million Euros).
In June, the British Lloyd’s Bank appointed judicial guards, while publishing activities continued as usual.
Twin brothers Frederick and David Barclay bought Telegraph Group Publications in 2004 for 665 million pounds (763 million Euros).