The publisher of The Daily Telegraph‘s sale to Germany’s Axel Springer for £575M ($761M) has completed.
The deal brings to and end a long period of uncertainty at Telegraph Media Group (TMG), which publishes the 172-year-old Telegraph tabloid newspaper in the UK. It closed after regulatory approval was gained in the UK, Ireland and Austria.
Axel Springer, owner of German tabloid Bild and dozens of other titles such as Politico and Business Insider, is planning for TMG “accelerated digital transformation, leverage AI to support innovation and growth, continue to develop its journalistic excellence, and expand into the U.S. market.”
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