BREAKINGVIEWS-Lack of M&A is squeezing Britain’s media old guard

Reuters12-02

BREAKINGVIEWS-Lack of M&A is squeezing Britain’s media old guard

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Jennifer Johnson

LONDON, Dec 2 (Reuters Breakingviews) - The Telegraph newspaper wants a new owner but is struggling to get one. And $3.5 bln broadcaster ITV isn’t courting a deal, but probably should. Government intervention, or the threat of it, is a blocker in both situations, risking a continuation of the lacklustre status quo.

Full view will be published shortly.

Follow @jenjohn_ on X

CONTEXT NEWS

Dovid Efune, the lead bidder for Britain’s Telegraph newspaper, has until at least Christmas to raise the money to buy the title from current owner RedBird IMI, the Financial Times reported on Nov. 28 citing people familiar with the matter.

Sky News reported on Nov. 26 that Apollo Global Management was discussing financing Efune, after other possible lenders Oaktree Capital Management and Hudson Bay Capital walked away.

Sky News reported on Nov. 23, citing industry sources, that CVC Capital Partners, Télévision Française 1 and other suitors are considering bids for all of parts of broadcaster ITV.

(Editing by Liam Proud and Streisand Neto)

((For previous columns by the author, Reuters customers can click on JOHNSON/Jennifer.Johnson@thomsonreuters.com))

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