Telegraph titles being sold - Lloyds bank calls in receivers to parent company
07-06-2023, 13:55
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#1
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cf.mega poster
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Telegraph titles being sold - Lloyds bank calls in receivers to parent company
Wonder who will buy the titles?
Quote:
Telegraph titles set to be sold after Lloyds calls in receivers
UK bank to seek sale of media group over almost £1bn in debts owed by Barclay family
Lloyds Banking Group will seek a sale of the Telegraph Media Group after pushing its parent group into receivership over debts owed by the Barclay family, according to people familiar with the matter.
The UK bank has put B.UK, a Bermudian-based holding company that ultimately controls the Telegraph titles and the Spectator magazine, into receivership, the people said. AlixPartners has been appointed as receiver at B.UK, they added.
The scale of the debts suggests that Lloyds would struggle to recover the full value of the loans, given that analysts estimate the titles are worth between £500mn and £700mn. Neither the Telegraph Media Group nor Press Acquisitions will be put into administration.
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https://www.ft.com/content/1e16e3b9-...7-81e4cf5b1164
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07-06-2023, 16:34
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#2
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Lurkalot
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
I hope it's The Guardian...or even better, The Morning Star ��
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07-06-2023, 16:48
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#3
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cf.mega poster
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
Front-runners tipped by The Guardian:- Associated Newspapers, owner of the Daily Mail, the i and Metro.
- Reach, owner of the The Mirror, Daily Express, Daily Star and OK! magazine.
- News UK, owner of the The Sun and The Times.
- Mediahuis, owner of the Irish Independent and Sunday Independent. The Irish arm of Mediahuis is chaired by Murdoch MacLennan, a former chief executive of Telegraph Media Group and they licence content from the Telegraph.
Outsiders:- National World, which is run by David Montgomery, a former chief executive of the publisher of the Mirror titles.
- Jeff Bezos, who bough the Washington Post in 2013.
- Wealthy individuals and sovereign wealth funds seeking status and influence
My shortlist inspired by the above would be:- 1. Mediahuis
- 2. Wealthy individual eg someone like Jim Ratcliffe
- 3. Reach
Last edited by 1andrew1; 07-06-2023 at 16:52.
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07-06-2023, 16:53
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#4
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
Quote:
Originally Posted by Saul's Grandad
I hope it's The Guardian...or even better, The Morning Star ��
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How about Groupe Figaro who publish the biggest selling newspaper in France? I know at least one fan of The Telegraph who would love that…
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07-06-2023, 16:58
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#5
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cf.mega poster
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
Quote:
Originally Posted by jonbxx
How about Groupe Figaro who publish the biggest selling newspaper in France? I know at least one fan of The Telegraph who would love that…
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It's possible, although subscriptions in Wokingham might be impacted.  But unlike other trade buyers, the synergies would be more limited, so they could not justify spending as much as Reach or Mediahuis.
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07-06-2023, 21:18
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#6
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Remoaner
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
Associated Newspapers makes some sense. They don't own a broadsheet and if they wanted one then The Telegraph makes the most sense.
But The Telegraph is not a money spinner. Few broadsheets are. The Times and The Financial Times are sustainable because they charge highly priced subscriptions and deliver the reporting their readers feel is worth it. The Telegraph has been shedding journalists for years, they do very little original reporting and they depend more on columnists and clickbait.
Will Associated Newspapers really want to overhaul all that and/or operate a loss-making paper? Murdoch did it with The Times for prestige and because he liked newspapers, The Guardian is a trust always trying to find new ways to make money and the FT made money.
Just reading the article I didn't know The Spectator was owned by the same group. That's a profitable and prestigious brand to own.
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07-06-2023, 21:34
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#7
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cf.mega poster
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
The Telegraph is profitable although you would get a better return for your money if you invested elsewhere unless you can take out costs by consolidating.
The Telegraph's content strengths are with its sports, business and leisure areas and less its news
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07-06-2023, 21:37
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#8
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Woke and proud !
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
DC Thompson are buying it. It's to be merged with the Beano. Dennis the Menace always was very right wing.
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09-06-2023, 22:59
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#9
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Sulking in the Corner
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
Just to say that Wokingham's favourite newspaper was seized because it was security against a loan to the Barclay brothers.
Quote:
Lloyds Banking Group has taken *control of the Telegraph Media Group (TMG) in an unprecedented move by a bank in modern times.
The lender has appointed receivers to manage the group while investment bankers run an auction which is expected to draw interest from rivals, wealthy individuals and funds potentially linked to Gulf states.
Lloyds has been in dispute with the Barclay family, who have owned The Daily Telegraph since 2004, over debts to its Bank of Scotland subsidiary, allegedly approaching £1 billion, which were secured against the publisher.
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https://www.telegraph.co.uk/business...arclay-lloyds/
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10-06-2023, 04:31
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#10
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cf.geek
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
Quote:
Originally Posted by Sephiroth
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Indeed, something fishy is going on here. Quite a coup d'etat from Lloyds, I do not understand, how Barclays were exposed so fast, without warnings.
Some lawyers/financiers will have their heads chopped off. We knew was coming but...
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10-06-2023, 07:36
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#11
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
Quote:
Originally Posted by Ms NTL
Indeed, something fishy is going on here. Quite a coup d'etat from Lloyds, I do not understand, how Barclays were exposed so fast, without warnings.
Some lawyers/financiers will have their heads chopped off. We knew was coming but...
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Lloyds and its predecessors were trying to get paid for years but ran out of patience. It was a reckless loan inherited from HBOS that they've written down to £0.
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11-06-2023, 19:46
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#12
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The Dark Satanic Mills
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
I haven’t bought a paper, any paper, in ten years.
Print media will continue in ever decreasing circles.
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12-06-2023, 00:53
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#13
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Dr Pepper Addict
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
Quote:
Originally Posted by Pierre
I haven’t bought a paper, any paper, in ten years.
Print media will continue in ever decreasing circles.
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Only 10 ? 
I havent bought one in the 21st century, I stopped sometime in the mid 1990's. 
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12-06-2023, 08:35
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#14
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The Dark Satanic Mills
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
Quote:
Originally Posted by Paul
Only 10 ?
I havent bought one in the 21st century, I stopped sometime in the mid 1990's. |
I used to like to spend Sunday mornings goin through The Times, but ironically I just don’t have that kind of time anymore!
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12-06-2023, 09:43
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#15
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cf.mega poster
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Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
Quote:
Originally Posted by Pierre
I used to like to spend Sunday mornings goin through The Times, but ironically I just don’t have that kind of time anymore!
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The Sunday Times has got so small these days that you could probably fit it in!
---------- Post added at 09:43 ---------- Previous post was at 09:42 ----------
Quote:
Originally Posted by Pierre
I haven’t bought a paper, any paper, in ten years.
Print media will continue in ever decreasing circles.
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Yup. Titles like the Telegraph now depend on online subscriptions and those like the The Sun on online advertising.
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