Daily Telegraph tipped to go to US bidder at auction

Published On Sep 26, 2024, 7:01 PM

Dovid Efune, owner of the right-leaning New York Sun, is currently favored to acquire the Daily and Sunday Telegraph with a competitive bid of around £550 million. His bid is appealing due to fewer political objections compared to other bidders, including hedge fund tycoon Sir Paul Marshall, who aims to expand a right-leaning media empire. The Telegraph's sale comes after a previous attempt by a foreign state-backed bid collapsed, raising questions about regulatory sentiments and ownership dynamics in influential UK media. The newspaper is considered a prestigious asset, potentially fetching more than its financial performance would suggest, with its profit exceeding £40 million annually.