Telegraph prepares sale bid
A group of senior Telegraph managers is looking for backers to bid for the media group, the Sunday Times reported.
Sir Frederick and Sir David Barclay, owners of the Telegraph and Sunday Telegraph titles for £665m in 2004, are reported to be eyeing a sale as part of a wider break-up of their empire. The move comes a week after the Telegraph revealed its pre-tax profit plummeted 94 per cent last year to just £900,000.
Additionally, the media group has been battling to boost its digital subscriptions to offset a sharp decline in revenue from print circulation and advertising.
The sale is expected to solidify a huge decline in value for the Telegraph since the Barclay takeover 15 years ago, with analysts at Liberum suggesting a potential price tag between £200m and £300m. Daily Mail and General Trust has been mooted as a potential suitor, while Alexander Lebedev, owner of the Evening Standard and The Independent, could also be considering a bid.