- German media giant Axel Springer challenges agreed Mail deal
- The new bid offers more cash upfront and is fully funded
- UK regulators probe the merger, raising questions over market dominance
In a fresh twist to the protracted sale of The Telegraph, German media giant Axel Springer has joined a rival bidding consortium led by Dovid Efune, aiming to hijack the agreed deal currently held by Daily Mail owner DMGT.
As first reported by the Financial Times, the consortium – led by the owner of the New York Sun – has submitted a revised £500 million offer to seller RedBird IMI. While the total valuation matches the bid from Lord Rothermere’s DMGT, Efune’s group claims its proposal is superior because it offers more cash upfront and contains “minimal debt.”
Crucially, the consortium stated this week that the bid is now “fully funded.” Previous attempts by Efune had struggled to prove total financial backing, but the addition of Axel Springer, the publisher behind Politico and Business Insider as well as German titles Bild and Die Welt, provides significant institutional weight. The group also includes Baltimore Sun owner David Smith and British investor Jeremy Hosking.
The emergence of this fully funded rival bid comes at a precarious time for DMGT. Last week, UK Culture Secretary Lisa Nandy referred the DMGT deal to regulators over competition concerns, noting that the merger would give Lord Rothermere control of over half the daily national print market.
While RedBird IMI is currently committed to the DMGT deal, the Efune-Springer alliance is positioned as a “cleaner” alternative with fewer regulatory hurdles. With the government investigation expected to last until June, the battle for one of Britain’s most influential broadsheets remains far from settled.
- https://www.theguardian.com/media/2026/feb/20/politico-owner-axel-springer-joins-rival-telegraph-bid-led-by-dovid-efune – This article reports that Axel Springer, the owner of Politico and Business Insider, has joined a rival bid for The Telegraph, led by Dovid Efune, the British owner of the New York Sun. The bid is valued at £500 million and aims to challenge the agreed deal held by DMGT, owner of the Daily Mail.
- https://observer.co.uk/news/business/article/new-york-sun-publisher-bids-500m-in-cash-for-telegraph – This piece details how Dovid Efune, publisher of the New York Sun, has secured backing from German news giant Axel Springer to revive his previously failed bid for The Telegraph. The consortium, which includes Baltimore Sun owner David Smith and British investor Jeremy Hosking, is offering £500 million, largely in cash.
- https://www.theguardian.com/business/2025/dec/14/daily-mail-owner-secures-funding-for-500m-takeover-of-telegraph – This article discusses how Lord Rothermere’s Daily Mail and General Trust (DMGT) has agreed to pay £500 million for The Telegraph, with £400 million funded by an increase in the group’s debt and existing company cash, and a further £100 million within two years. The deal is under regulatory review.
- https://apnews.com/article/5ae89f1d74a72a54b6eca38794564162 – This report covers the agreement between U.S. investment firm RedBird Capital Partners and the Telegraph Media Group to acquire the publisher of Britain’s Daily and Sunday Telegraph newspapers for approximately £500 million. The deal marks the conclusion of a prolonged effort to sell the conservative-leaning British media outlet.
- https://www.thewrap.com/media-platforms/journalism/axel-springer-dovid-efune-uk-telegraph-bid/ – This article highlights that German-owned media conglomerate Axel Springer has backed New York Sun publisher Dovid Efune’s bid to acquire The Telegraph. The bid competes with the Daily Mail’s attempt to purchase the conservative British newspaper.
- https://www.brecorder.com/news/40408306/springer-backs-dovid-efunes-usd675m-telegraph-bid – This piece reports that Axel Springer is backing a new bid for Britain’s Telegraph Media Group submitted by U.S. publisher Dovid Efune, challenging DMGT’s proposed acquisition of The Telegraph. The bid is valued at around £500 million, with a larger upfront cash payment than DMGT’s offer and minimal debt.
Register for Editor’s picks
Stay ahead of the curve with our Editor's picks newsletter – your weekly insight into the trends, challenges, and innovations driving the future of digital media.
