London: German media group Axel Springer has agreed to buy the owner of Britain’s Daily Telegraph newspaper for 575 million pounds (USD 766 million), the companies announced Friday.
The agreement ends a long saga over ownership of the Telegraph Media Group, which publishes the 171-year-old Daily Telegraph and its Sunday sister paper.
Axel Springer said it will invest in the group “to enable it to become the leading centre-right media outlet in the English-speaking world.
AP