Chelsea FC owner Todd Boehly’s investment firm, Eldridge Industries, has expressed interest in acquiring the newspaper group National World, publisher of The Scotsman and the Yorkshire Post. This comes just a week after National World shareholders approved a £65.1 million acquisition bid by major shareholder Media Concierge.
National World confirmed on Friday that it had received notification from Eldridge that it is "considering making a proposal" for the entire company.
This potential takeover bid adds another layer of complexity to the ongoing ownership saga surrounding the regional newspaper publisher. Should Eldridge formalize its interest, it would set the stage for a potential bidding war with Media Concierge.
Bosses at National World said they will “consider the terms of any proposal put forward by Eldridge that may deliver superior value” compared to the current takeover plan.
However, the company – founded by former Mirror Group boss David Montgomery – stressed there is still no certainty that a formal offer will be made.
The interest from Mr Boehly comes amid reports that the US businessman is still seeking to buy The Telegraph newspaper business, and would combine this with National World.
Abu-Dhabi-based RedBird IMI has been trying to sell the Telegraph Media Group business after its original takeover of the firm was blocked by UK legislators.
RedBird IMI took control of the media business when it was put on the market in 2023 in order to help previous owners, the Barclay family, repay heavy debts to lenders at Lloyds bank.
The deal drew fierce criticism over free speech concerns before it was ultimately blocked by the Government earlier this year, resulting in the sale process.
In October, the seller announced that owner of The New York Sun, Dovid Efune, entered exclusive talks to buy the Telegraph in a deal worth around £550 million.
However, RedBird IMI is understood to now be considering a variety of potential deals, including Mr Efune, amid difficulties from the proposed buyer to quickly secure financing.
National World was among the firms vying with Mr Efune to take control of the influential media company.
It was also reported in December that Mr Boehly held talks over potentially being involved in a deal to buy the Telegraph.
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