According to reports from various international platform reveal that the billionaire Barclay brothers are in serious consideration to dispose their UK based mass media outlets, Telegraph Media Group that runs the Newspapers ‘The Daily and Sunday Telegraph’.
David and Frederick Barclay acquired the group in July 2004, after months of intense bidding and lawsuits, from Hollinger Inc., but are now conducting a review of their many businesses, which also include the Ritz hotel in London.
There have been rumours that the Barclay brothers have been looking for a potential buyer for many years, although despite endless speculation there has been no sign of a deal. However, a report in the Times suggested they were looking to sell within the next 12 to 18 months, although no advisers have been appointed.
In common with all print newspapers, the Telegraph’s circulation has plummeted in recent years. Various names have been attached as potential purchasers – including at one point Jeff Bezos, the boss of Amazon – but it may be difficult to find a buyer for a newspaper in the current media environment. Profits of Telegraph Media Group slumped to £900,000 last year, in the middle of a turnaround plan led by the chief executive Nick Hugh, who hoped to turn the company into a business based on digital subscriptions.
Sales of the print editions have plummeted in recent years, with the Daily Telegraph averaging a daily circulation of 310,586. The Sunday Telegraph sells, on average, 244,351 copies.
The reports of the potential sale of the Telegraph come amid speculation over a family split, with different sides of the family debating whether to liquidate the company assets.
