Tuesday 6 June 2023

Newspapers in trouble ?

'The future ownership of the Daily and Sunday Telegraph has once again been thrust into the spotlight, after it emerged that the newspaper group’s parent company faces the threat of being put into administration by lenders.

Lloyds Banking Group has threatened to put Press Acquisitions, the company controlled by the Barclay family that owns the newspapers’ parent company, Telegraph Media Group (TMG), into administration after a breakdown in talks over loans the business has racked up over the years.

If the two sides do not come back to the negotiation table to hammer out a new deal over about £65m in loans, then Lloyds is prepared to call in a restructuring advisory group and appoint insolvency practitioners “within days”, according to the Times.

Telegraph parent company faces being put into administration

'Britain's biggest high street lender is lining up bankers to launch a £600m auction of the Telegraph newspapers and The Spectator magazine within days amid a bitter row with the titles’ long-standing owners.

'Sky News has learnt that Lloyds Banking Group is being advised by Lazard on its options for some of Britain's best-known media assets.

'Industry sources said on Tuesday night that Lloyds planned to appoint another large investment bank to kick off an immediate process to sell the Daily and Sunday Telegraph titles.'

Lloyds to launch £600m Telegraph auction 

after seizing control


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