Axel Springer agrees to buy Telegraph Media Group in £575m deal

European media firm Axel Springer has agreed to purchase the Telegraph Media Group (TMG) in a deal costing £575m.

The Daily Mail and General Trust (DGMT) proposed to buy the company in a £500m takeover, but the government ordered an investigation on public interest and competition grounds.

TMG owns The Daily Telegraph and The Sunday Telegraph, The Telegraph Magazine and the website and app.

Axel Springer chief executive, Mathias Dopfner, said he wanted to "preserve the distinctive character and legacy" of The Telegraph.

"More than 20 years ago, we tried to acquire The Telegraph and did not succeed. Now our dream comes true," he added.

"To be the owner of this institution of quality British journalism is a privilege and a duty."

In a company statement, Alex Springer said it would back an investment programme into TMG to "grow and expand the business".

It will also expand the reach of the Telegraph into the United States, it said.

TMG was put up for sale in 2023, because of debts owed by the previous owners, the Barclay brothers.

Several attempts to buy the group have fallen through over the years, but the Daily Mail bid was agreed to in 2025.

Culture Secretary Lisa Nandy said she had launched the probe into the proposed deal over concerns the it could affect the "plurality of views" in the UK media.

Competition issues will be assessed by the Competition and Markets Authority, while media regulator Ofcom will look at the public interest impact, Nandy said.

In February, DMGT said it remained "committed to investing in the Telegraph and its journalists, preserving its distinctive editorial voice and team, and accelerating its global expansion, with a focus on the US."

It added that it would work with regulators to secure completion of the deal.