Why own a newspaper in 2023? Ask the very rich men trying to buy the Telegraph | Jane Martinson

With debts of £1bn, this isn’t some ordinary financial asset. The desire to own the papers says more about power than profitSo much has changed in the generation since the Telegraph newspapers and the Spectator magazine were last put up for sale in 2004, including how much money they make. Yet one constant remains: the desire of very rich men to own them.At least a dozen bidders have emerged as potential buyers in an auction meant to kick off this week, while the most recent owners have just come up with an audacious plan to win back control from Lloyds bank. This desire says a lot more about power than profit, and even more about modern Britain.Jane Martinson is a Guardian columnist. Her latest book is You May Never See Us Again, The Barclay Dynasty: A Story of Survival, Secrecy and Succession (Penguin Business, £25) Continue reading... Continue reading at 'The Guardian'

[ The Guardian | 2023-10-19 11:00:20 UTC ]
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