The Daily and Sunday Telegraph newspapers and The Spectator magazine are to be sold to pay off debts.
The Barclay family – who previously owned the titles – have lost control of the group that owns the titles and receivers Alix Partners are now in charge.
An Alix Partners spokesman said the firm doesn’t expect its immediate takeover to affect the day-to-day running of the news outlets, which it said remain profitable.
Lloyds Banking Group placed previous owner B.UK – a Bermuda-based holding company owned by the Barclay family – into receivership over a loan that was taken out and not repaid, said to be worth hundreds of millions of pounds.
Brothers Howard and Aidan Barclay have been removed as directors.
Lloyds said: “The decision … follows numerous discussions with B.UK’s parent company, Penultimate Investment Holdings Limited (PIHL). The aim of these discussions, which were held over a long period and undertaken in good faith, had been to find a consensual solution and repayment of PIHL’s borrowing to Bank of Scotland. Unfortunately, no agreement could be reached.”
Banking bosses said they are open to returning the titles to the Barclay family if the loans are repaid but it seems likely that the titles will be sold, and investment bank Lazard is now in charge of “exploring options” for sale.
Lloyds Bank and Alix Partners said they “will not seek to influence the editorial decisions of the newspapers while in receivership”.
It has been estimated that the titles could be worth around £500 million.
But who are the other UK newspapers owned by?
The Sun and The Times
The papers are all owned by News UK, which is wholly owned by News Corp – an organisation that owns a number of media outlets around the world such as the Wall Street Journal and publisher Harper Collins in the US.
As well as the print and online editions of the newspapers, News UK has a number of national broadcasting brands, including talkSPORT, Times Radio, TalkTV and Virgin Radio.
News Corp is owned by media mogul Rupert Murdoch.
Daily Mail, Mail on Sunday and Metro
DMGT – also known as Daily Mail and General Trust – owns these newspapers.
The group says on its website: “DMGT manages a portfolio of companies that provide businesses and consumers with compelling information, analysis, insight, events, news and entertainment. The Group takes a long-term approach to investment and has market-leading positions in consumer media, property information, events & exhibitions and venture capital. In total, DMGT generates revenues of around £1bn.”
The fourth Viscount Rothermere is the chairman and controlling shareholder of the company. The head office is located in Kensington, London.
Daily Mirror, Sunday People, Daily Express, Daily Star, Daily Star Sunday
These titles are all owned by Reach and, as well as the national titles, the group owns the Manchester Evening News, Liverpool Echo, Irish Star, OK! magazine, WalesOnline, MyLondon and Curiously, plus an array of local papers around the country.
The Guardian and the Observer
The Guardian Media Group owns these papers. The Observer is the world’s oldest Sunday newspaper. GMG is owned by the Scott Trust.
The London Evening Standard and The Independent
Evgeny Lebedev is the majority owner of the Independent and the London Evening Standard. He was made a peer in 2020 by Boris Johnson.
