Secretary of State for Culture, Media and Sport (): On Friday 6 March 2026, I was
informed by representatives of RB Investco Limited that RB
Investco Ltd intends to sell its call option to purchase the
Telegraph Media Group Holdings Limited, owner of the Telegraph
and Sunday Telegraph newspapers, to the German media company Axel
Springer SE. They have asked for my written consent to allow RB
Investco Ltd to derogate from the Public Interest Merger
Reference (Telegraph Media Group Limited) (Pre-emptive Action)
Order 2024 (the “2024 Order) to sell its option.
Today, I gave my written consent under the 2024 Order to RB
Investco Ltd to sell its call option to purchase the Telegraph
Media Group Holdings Ltd to Axel Springer.
In my quasi-judicial role I have also assessed the proposed
merger between Axel Springer and the Telegraph Media Group
Holdings Ltd under the public interest media mergers regime and
the foreign state influence regime as set out in the Enterprise
Act 2002. I am currently not minded to intervene in this merger
under either regime on the basis of the evidence available to me
at this time. This is without prejudice to my ability to
intervene in this merger within the applicable statutory time
limits, if new or additional information comes to my attention.
I am pleased to be able to take these positive steps, which give
greater certainty to the Telegraph and its staff.
