Jeff Zucker is close to taking over Britain’s Telegraph and Spectator in a $1.4 billlion deal that could see the right-wing publications expand into the U.S., The New York Times reported Friday.
The former CNN head, now the CEO of media investment firm RedBird IMI, is closing in on an agreement to buy the The Telegraph Group after it was put up for auction after Lloyd’s of London seized the company following the default on a loan by its current owners, the Barclay family.
Among the other bidders was a group led by fellow American Ken Griffin, founder of Citadel, one of the world’s largest hedge funds.