The US private equity firm, led by founder Gerry Cardinale, is working on plans to either self-fund a takeover or form a consortium. RedBird was previously part of a joint venture with Abu Dhabi's IMI, which took control of the Daily and Sunday Telegraph titles in late 2023 after repaying debts owed by the Barclay family to Lloyds Banking Group. However, the UK government subsequently introduced legislation restricting foreign state ownership of newspaper assets, forcing RedBird IMI to restart the sale process. RedBird Capital is now positioning itself as the lead investor in a new structure that complies with the revised regulations. Sources close to the process said a formal deal could be tabled as early as next month. Potential alternative suitors remain in the wings, including Lord Rothermere's Daily Mail and General Trust (DMGT) and Chelsea FC owner Todd Boehly, although DMGT previously pulled out citing concerns over competition and regulatory hurdles. Talks have also been...
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