Barclay brothers put Telegraph newspapers up for sale
Buyers are sought for the daily and Sunday editions
The Barclay brothers have put the Telegraph newspapers up for sale as part of a review of the family’s assets.
Aidan and Howard Barclay are said to be evaluating the family’s businesses on behalf of their father Sir David Barclay and his twin Sir Frederick.
The 84-year-old brothers, who live in the Channel Islands, also own The Spectator magazine, The Ritz Hotel, the Yodel delivery group and online retailer Shop Direct which are not thought to be part of the sale.
Said to be worth £8bn, the Barclays made their fortune investing in property, media and retail, entering the media industry by buying the now defunct newspaper The European in 1992. They were knighted in 2000 for their support to charities and medical research.
They bought for the Telegraph titles in 2004 for £665m a year before they ended a 10-year ownership of The Scotsman newspaper group by selling it to Johnston Press for £160m. Before the sale they relocated the titles from their historic North Bridge home to purpose-built offices in Holyrood Road, still known as Barclay House and now occupied by games company Rockstar North.
The Scotsman titles have also been put up for sale by current owner JPIMedia. There has been interest from Daily Record and Daily Mirror owner Reach and from former News of the World editor David Montgomery’s National World.