RedBird IMI — a joint venture between
The Barclay family owned the right-leaning newspaper and magazine nefore they were put into receivership. The family also previously owned
Earlier in the year,
Various media firms have been reported to be interested in taking over the publications, including German publisher
RedBird IMI said Monday that it would provide a loan of up to 600 million pounds (
The fund said the deal includes an option to turn the loans into equity which would give it ownership control of the newspaper and magazine.
“Any transfer of ownership will, of course, be subject to regulatory review, and we will continue to cooperate fully with the government and the regulator,” Redbird IMI said in a statement.
Lenders for the Barclay family would need to agree to the deal, which is expected to attract a high level of political scrutiny.
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