March 6 (Reuters) – German publisher Axel Springer said on Friday it had agreed to buy in an all-cash deal Britain’s Telegraph Media Group for 575 million pound ($766.30 million).
The sale would upend Daily Mail-owner DMGT’s attempt to buy its broadsheet rival, which had been facing regulatory probes in Britain amid concerns the takeover could reduce media plurality and allow alignment of editorial stances across the Daily Mail and Telegraph titles.
($1 = 0.7504 pounds)
(Reporting by Sam Tabahriti, Amy-Jo Crowley in London, and Prerna Bedi in Bengaluru; Editing by Krishna Chandra Eluri)