A German publishing powerhouse advocating for a united Europe has thrown its support behind a late-stage bid to acquire the pro-Brexit Telegraph newspaper.
Axel Springer, publisher of Welt and Bild, is financing Dovid Efune, owner of the New York Sun, in an effort to secure the historic British broadsheet. This move comes as DMGT, the media group behind several UK titles including the Daily Mail and Mail on Sunday, advances toward a purchase deal.
Bid Emerges Amid Regulatory Green Light
The announcement follows hours after Culture Secretary Lisa Nandy approved RedBird IMI, current Telegraph owners, to transfer security over the newspaper to DMGT for £500 million—the exact sum matched by the Axel Springer-led consortium.
Axel Springer mandates its German staff to affirm principles supporting Israel’s right to exist and the US-Europe alliance. CEO Mathias Döpfner emphasized their universal application, stating to the Wall Street Journal that these guidelines function “like a constitution” for all employees. He added that those who disagree “should not work for Axel Springer, very clearly.”
Other consortium members include broadcasting magnate David Smith, owner of the Baltimore Sun, hedge fund manager Jeremy Hosking—who backs Lawrence Fox’s Reclaim party—and an unidentified British investor.
The group asserts: “We believe our proposal is in the best interests of the seller, The Telegraph, its staff, readers and the wider British public. Our commitment to securing the best possible outcome for all parties in this long and winding saga has never wavered.”
Timeline of Telegraph Ownership Saga
DMGT struck a £500 million agreement for The Telegraph in November 2025. Earlier this month, Nandy issued a public interest intervention notice, citing concerns over public interest and competition issues. Regulators Ofcom and the Competition and Markets Authority must deliver findings by June 10, 2026.
The Telegraph has faced uncertainty since RedBird IMI’s 2023 acquisition attempt collapsed due to government worries over foreign state influence. A restructured bid limited IMI to 15% stake was withdrawn in November 2025, followed by a December request to shift control to DMGT.
Approval would align The Daily Telegraph and Sunday Telegraph with DMGT outlets like Metro and i Paper, with assurances of editorial independence across all titles.
Key Figures and Controversies
Döpfner champions AI integration, instructing staff last year to incorporate it into reporting under the mantra “embrace AI or die.” Efune previously pursued funding from Leon Black’s family office.
Former Conservative leader Iain Duncan Smith voiced opposition to foreign ownership, stating: “I have said throughout that foreign money should not be used to buy The Telegraph, be it Chinese, Middle Eastern or even from the EU.”
