19 February 2024 , 09:37
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The company trying to buy the Telegraph newspaper is going to buy the company that made Fleabag and The Traitors for £1.15 billion.
RedBird IMI, led by ex-CNN boss Jeff Zucker, will take over All3Media in London. They made a deal with Warner Bros, Discovery and Liberty Global who owned All3Media. All3Media in London has made lots of popular TV shows like Squid Game: The Challenge, Midsomer Murders, Call The Midwife, and Gogglebox.
They work worldwide including the UK, the US, Germany, the Netherlands, Belgium, and New Zealand. Mr Zucker said: "All3Media is one of the world's great content companies, and this gives us an incredible platform to continue to grow our expanding portfolio."
He added: "The demand for new shows and ongoing existing series, both scripted and unscripted, makes All3 a perfect fit for us. We would not be doing this if not for the tremendous confidence we have in the outstanding All3Media management team, led by Jane and Sara."
RedBird IMI is mostly owned by Sheikh Mansour bin Zayed Al Nahyan from Abu Dhabi. He is also the vice-president of the United Arab Emirates. Some ministers are worried about him buying the Telegraph newspaper. The Government has ordered an investigation into the deal by regulators Ofcom and the Competition and Markets Authority. They have until March 11 to report.
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Meanwhile, RedBird IMI and Telegraph Media Group are not allowed to make any changes to key staff or the structure of the Telegraph business, which also includes the Spectator magazine. The All3Media deal is RedBird IMI's fifth investment since it started about a year ago.
It has put money into other media companies like production firms Media Res and EverWonder Studios, as well as children's entertainment company Hidden Pigeon Company and Front Office Sports, a digital outlet.