GB News backer Sir Paul Marshall is watching developments in the proposed sale of the Daily and Sunday Telegraph, theipaper understands, as the Barclay family fights a rearguard battle to retain control of the titles adamsherwin10 reports
: “It’s too early to say if he will be genuinely interested from a business perspective though he is watching the situation.”with GB News could allow the creation of a right-wing TV and digital media empire to challenge Rupert Murdoch’s News UK and TalkTV.for its business potential than any political influence ownership might bring.
The Barclay family is not giving up the papers, bought by twins David and Frederick for £665m in 2004, without a fight. Despite debts believed to mount to £1bn, the now-former owners have tabled a debt refinancing plan to lenders Lloyds. Carlyle, a private equity firm which holds some of the debt in Barclay-backed companies including the online retail group Very, is involved in the talks, Sky News reported. However, it is understood that the repayment plan offered did not satisfy Lloyds.
A source close to the process said: “The bank is just keen for a solution that sees the repayment of the debt. They are willing to continue discussions but they want all options considered now, which receivership allows.” A family spokesman told Sky News that talks with Lloyds “remain ongoing” and that it hoped to come to an “agreement that will satisfy all parties.”: “The Barclay family were removed as directors when the business was taken over by receivers but they believe they can still regain control of the papers if they can keep the bank talking.”
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