RedBird IMI Agrees Loan Package for Telegraph and Spectator: Concerns Over Abu Dhabi Ties
RedBird IMI, a joint venture between RedBird Capital Partners and United Arab Emirates-based International Media Investments, has agreed to a £600 million loan package with the Barclay family that would enable RedBird IMI to take control of the Telegraph newspaper and Spectator magazine. However, concerns have been raised among Conservative lawmakers due to the fund’s ties to Abu Dhabi. RedBird IMI plans to convert the loan into equity and assume management of the titles, with the CEO of RedBird IMI, Jeff Zucker, leading the way. The involvement of the United Arab Emirates has prompted calls for a thorough regulatory review of the acquisition.