Published by Global Banking & Finance Review®
Posted on February 20, 2026
2 min readLast updated: April 3, 2026
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FT says Axel Springer is backing Dovid Efune’s £500m consortium for Telegraph Media Group, a fallback if DMGT’s deal hits regulatory hurdles. Reuters has not independently verified the report.
By Yamini Kalia
Feb 20 (Reuters) - Axel Springer is backing a new bid for Britain's Telegraph Media Group submitted by U.S. publisher Dovid Efune, a spokesperson for the German group and a source said on Friday, challenging DMGT's proposed acquisition of the Telegraph.
DMGT, owner of the Daily Mail, had struck a 500 million pound ($675.35 million) deal in November to buy the Telegraph and create one of the most powerful right-leaning media groups in Britain, but the deal is facing regulatory scrutiny on public interest and competition concerns.
A consortium led by Dovid Efune, publisher of The New York Sun, has submitted a new bid that is also valued at around 500 million pounds but with a larger upfront cash payment than DMGT's offer, minimal debt portion and no expected regulatory hurdles, a source with knowledge of the offer told Reuters.
The Financial Times first reported earlier on Friday the new bid by Dovid Efune and Axel Springer's backing.
Telegraph Media Group and its owner RedBird IMI did not immediately respond to Reuters' requests for comment.
The signed backers of the new bid now include Axel Springer, investors Jeremy Hosking and David Smith, and another high net worth British investor, the source said.
DMGT's bid, if approved, would bring the Daily Telegraph and Sunday Telegraph newspapers under the same umbrella as the Daily Mail, Mail on Sunday, Metro and The i Paper.
($1 = 0.7404 pounds)
(Reporting by Yamini Kalia with additional reporting by Sri Hari N S in Bengaluru; Editing by Krishna Chandra Eluri and Susan Fenton)
Axel Springer is backing a Dovid Efune-led £500m bid for Telegraph Media Group, reported by the Financial Times, potentially challenging DMGT’s pending deal.
DMGT’s agreed takeover is under regulatory review in the UK. The Efune consortium presents a ready alternative if that deal is delayed or blocked.
The bid is led by Dovid Efune with new backing from Axel Springer. The incumbent buyer is DMGT, while UK regulators are assessing the DMGT deal.
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