Former CNN Boss Jeff Zucker Eyes Return To Media With Britain’s Daily Telegraph

Zucker is CEO of an investment firmed called RedBird IMI, a joint venture backed by an Abu Dhabi-based investment group. RedBird said this week it had put forward a bid to take control of the conservative-leaning newspaper and its sister magazine, The Spectator. The two properties, both powerful presences in the British media landscape, were seized by Lloyds Banking Group earlier this year after failing to pay their debts.

Though a deal hasn’t been finalized, if RedBird succeeds it would place Zucker at the helm of both properties, marking his return as a media titan. The New York Times reported that Zucker’s vision for the properties include an expansion into the U.S. with the Telegraph established as a center-right media outlet.

He does not plan to relocate to London to oversee the media organization, and the Times added that he didn’t plan to oversee day-to-day coverage. The Abu Dhabi investment firm would remain a passive investor, RedBird IMI said.

The auction for the Telegraph and Spectator was paused on Tuesday after the proposal, which relies on about $1.4 billion in financing, is reviewed by Lloyds. Lawmakers in the U.K. will also need to review the ownership proposal since it would be led by an American and funded by an Emirati investment firm.

https://www.huffpost.com/entry/jeff-zucker-the-daily-telegraph_n_655d84f9e4b0c91d82790ea7