Are U.K. regulators on the verge of approving JeffZucker and RedBird IMI’s bid to buy The Telegraph and The Spectator? In today’s issue, fresh reporting around how much Zucker & Co. are preparing to fork over, notes on the fallout from Elon’s F-bomb bonanza at DealBook, and the latest on the Bob Iger-Nelson Peltz cold war.
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On Friday, the cash changed hands. Jeff Zucker’s RedBird IMI and Sheikh Mansour bin Zayed Al Nahyan, one of his partners in the deal for The Telegraph and The Spectator, wired their respective millions—totaling some $1.4 billion—to the Barclay family, which then presumably paid off their debt, in full, to Lloyds Bank. The auction to sell both The Telegraph and The Spectator is also presumably over, or on hiatus, pending the outcome of the U.K. regulatory review of the foreign money in the deal. To that end, RedBird IMI also exercised its option to...
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