National World eyes Telegraph Media Group as potential acquisition target

National World, the owner of the Yorkshire Post, the Scotsman and more than 100 other regional newspapers and websites, has expressed its interest in buying the Daily Telegraph and its sister titles, including the Sunday Telegraph and the Spectator magazine.

The company, which was founded by former Mirror executive David Montgomery, said in a statement to its shareholders that it was a “possible participant” in any sale process for Telegraph Media Group (TMG), which is expected to start later this year.

TMG was put up for sale in June after its owners, the Barclay family, failed to repay their debts to Lloyds Bank. The bank appointed receivers to take control of TMG and its assets, which are estimated to be worth more than £500m. The receivers said they would not interfere with the editorial independence of the newspapers and the magazine while seeking a buyer.

National World said that its growth strategy was based on making acquisitions and implementing its new operating model, which involves using artificial intelligence to automate the production of newspapers and reduce costs. The company bought the assets of the former Johnston Press group for £10m at the end of 2020, acquiring titles such as the i paper, the Scotsman and the Yorkshire Post.

The company said that it would consider buying TMG as and when a formal sale process commences, and that it would update its shareholders on any developments. It also said that it had no intention of making any changes to the editorial policies or staff of TMG if it acquired it.

National World faces competition from other potential bidders for TMG, such as private equity firms, media tycoons and foreign investors. TMG is one of the largest and most influential media groups in Britain, with a loyal readership and a strong digital presence. The Daily Telegraph is the best-selling quality daily newspaper in the UK, with a circulation of about 300,000 copies.

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