Axel Springer’s acquisition of The Telegraph will complete today (Tuesday 30 June), ending “three difficult years” without an owner for the UK national newspaper.
The £575m deal was announced in March and has now received all the required regulatory approvals in the UK, Ireland and Austria.
Axel Springer pledged to “further strengthen” The Telegraph’s commercial and subscription businesses and expand its events and premium offerings.
It added that it would preserve The Telegraph’s “editorial independence and integrity” and British identity.
Telegraph editor-in-chief Chris Evans said: “These are exciting times for The Telegraph. Axel Springer and we have much in common. We share the same values. We also share the same vision and the same ambition.
“We believe there are many opportunities to grow The Telegraph, both in the UK and overseas. After three difficult years without owners, we look forward to stoking up the engines and setting forth on a new voyage.”
Evans led a newsroom revolt earlier in the sales process when The Telegraph look set to be bought by UAE state-backed Redbird IMI – ultimately killing off that deal by influencing the former Conservative Government into changing the law around foreign state newspaper ownership.
‘The Telegraph was our North Star’ says Axel Springer CEO
The sales process has been ongoing with at least four serious contenders for the ownership since Lloyds took control of Telegraph Media Group in June 2023 to recoup debts owed by the Barclay family.
The Telegraph has ultimately found a home with Axel Springer, which also owns German newsbrands Bild and Welt, plus Politico, Business Insider and Morning Brew.
Axel Springer said The Telegraph will “benefit from accelerated digital transformation, leverage AI to support innovation and growth, continue to develop its journalistic excellence, and expand into the US market”.
Axel Springer chief executive Mathias Dopfner said: “Today is a day we have worked towards for a long time, and one we will always remember. Axel Springer was founded in 1946 under a British press licence, and The Telegraph was our North Star.
“Axel Springer and The Telegraph share strong commitments to freedom, values, a tradition of embracing and pioneering technological change, and an entrepreneurial will to actively shape the future. This creates a strong foundation for further accelerating our AI-powered digital transformation. Together we can lead the next generation of trusted media.”
Axel Springer previously tried to buy The Telegraph last time it was up for sale in 2004 but was beaten by the Barclay family
Telegraph Media Group chief executive Anna Jones said: “Today’s closing of the acquisition enables TMG to look forward with confidence as Axel Springer leads the business into a new phase of growth.
“The Telegraph has shown remarkable resilience over the past three years and remained both agenda-setting and award-winning. During this period we have also delivered double-digit digital commercial growth and increased digital subscriptions by a third.
“Being part of Axel Springer is an exciting next chapter for TMG.”
TMG (including The Telegraph and lifestyle titles at Chelsea Media Company) had 1.86 million subscriptions in December 2024, the latest figures available – of which 842,000 were digital.
Why Telegraph sales process took three years
Redbird IMI acquired The Telegraph in 2023 as it agreed to pay off £1.2bn in debts for the Barclays.
But a new UK law banning foreign states from owning more than 15% of UK newspapers meant the sale, which had been majority funded by the UAE, was left in limbo.
Last year US-based private investment firm Redbird said it would buy The Telegraph in a new £500m deal with IMI owning no more than the permitted 15%. DMGT was also involved as an investor.
Redbird later pulled out after its bid had still not received Government approval six months later. It had also continued to receive negative publicity in The Telegraph itself, including over potential Chinese links.
Daily Mail owner DMGT then signed an agreement with Redbird IMI in November 2025, planning to pay £400m upfront and a further £100 within two years, but this was held up by public interest and competition investigations requested by the UK Government.
Axel Springer was able to swoop in with a new negotiation to gazump DMGT. It was not subject to the same competition investigations as it did not have a large UK footprint already.
Axel Springer has a unique corporate constitution which states:
“We stand up for freedom, free speech, the rule of law, and democracy.
“We support the right of existence of the State of Israel and oppose all forms of antisemitism.
“We advocate the alliance between the United States of America and Europe.
“We uphold the principles of a free market economy.
“We reject political and religious extremism and all forms of discrimination.”
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