POLITICO owner Axel Springer buys Telegraph for £575M – POLITICO

He added: “We want to help it become the most read and intellectually inspiring center-right media outlet in the English-speaking world.”

Axel Springer wasn’t the only media company interested in purchasing the Telegraph, as the Daily Mail & General Trust had proposed a £500 million takeover.

Döpfner added: “The Telegraph stands for freedom, personal responsibility, democratic values and a belief in open societies and market economies. These convictions closely align with our Axel Springer essential values.”

A spokesperson for the U.K.’s Department for Digital, Culture, Media and Sport, which oversees media mergers in the U.K. on competition and foreign influence grounds, said Friday: “We note the announcement today on the sale of Telegraph Media Group. The Secretary of State will, as she has throughout, follow the established regulatory process and assess the new deal proposed. We will keep Parliament updated on this process.”

Döpfner statement said that the buyer and seller “believe that the transaction is fully compliant with the UK’s Foreign State Influence regime.”