Owner of Daily Telegraph faces bankruptcy

[Mrwong]

Doesn't seem to work for the independent... Just says request timed out.
Although I suspect they upgraded their website recently as you could just hit F5 to get around the ad blocker/paywall pop ups before ?

No paywall here.

 

[GGizmo]

Unless they have the initials BBC

The BBC is one of the worst, as it has a superiority complex.

It showed itself up recently with how it handled the Tate interview ie it came across as hysterical, instead of asking the serious questions it used to be known for.

If I had been the BBC general and we had to cover the Tate story I'd have sent the Hard Talk team in.

 

[Tony Edwards]

Not when it seems someone's willing to pay half a billion for it.

I've no idea how much the Barclays family owes, something I'd read initially said it was a few hundred million, and Lloyd's were concerned they wouldn't be able to secure full repayment. But if three of their media titles are expected to fetch 500m each, then I'm not sure why they wouldn't be able to secure a full payment.

Would be nice to see a billionaire family go bankrupt - although I suspect most of the assets have been transferred to the children and are out of reach.

The former owners of the Daily and Sunday Telegraph have made an attempt to regain control of their media assets after they were put up for a sale in a bitter row with lenders.

The Barclay family has submitted an offer to Lloyds Banking Group that would reportedly allow them to write off some of the nearly £1bn in debts owed to the group’s subsidiary, Bank of Scotland.


It made the move on Wednesday, hours after Bank of Scotland appointed AlixPartners as official receiver to the publisher’s holding company in a move to seize the shares owned by the Barclay family.

Bank of Scotland was frustrated at the lack of repayment of the loans, which were bought by Lloyds as part of its takeover of HBOS during the financial crisis in 2008.

The bank has rejected the latest in a series of proposals to restructure the debts, according to Sky News, which first reported the Barclays’ offer. Sources close to the situation, however, said talks were ongoing and that the Barclay family could still regain control.

Any deal is expected to value the media assets at about £600m, meaning about £400m of debts would remain outstanding even if the entire proceeds of any sale were used to repay the loan.

 

[imtoooldforthis]

I have never read it on a regular basis but was under the impression the telegraph was considered somewhat credible at some point in the past ? It was always conservative but it was generally considered a serious paper right ?

What happened ? Seen so many insane opinion pieces over the last year from them and they even have a dedicated “woke” section on their website which not even the Daily Fail has.

Woke

www.telegraph.co.uk

 

[Spannerhead]

Not suprised this has happened. when was the last time you read the telegraph?

I always thought it was offshoot of the daily mail, but with a dull grey look to it

Last time i saw a telegraph newspaper i was at my grans house, and that was like 20 years ago.

**yes, i know you can read it online, but never have done


Suprised they won't go out in 'style', like the news of the world, with some kind of phone hacking scandal or something like that

 

[Blackjack Davy]

Not suprised this has happened. when was the last time you read the telegraph?

I always thought it was offshoot of the daily mail, but with a dull grey look to it

Last time i saw a telegraph newspaper i was at my grans house, and that was like 20 years ago.

What happened? The owners are bankrupt not the paper. Also there is something called online editions these days, you may have heard of it.

 

[Rroff]

I never read it but was the telegraph somewhat credible at some point in the past ? Yes it was always conservative but it was generally considered a serious paper right ?

What happened ? Seen so many insane opinion pieces over the last year from them and they even have a dedicated “woke” section on their website which not even the Daily Fail has.

Woke

www.telegraph.co.uk

When I was a kid growing up in the 80s and early 90s it was fairly credible, a little less stuffy/easier reading than The Times but still fairly serious.

Things have changed a lot since then.

 

[Quartz]

I never read it but was the telegraph somewhat credible at some point in the past ? Yes it was always conservative but it was generally considered a serious paper right ?

Unfortunately, as you show here, consideration of credibility is heavily tainted by political orientation. Those on the right don't trust the Guardian; those on the left don't trust the Telegraph. Which means that you cannot trust overall figures.

 

[CapitalOne]

Unfortunately, as you show here, consideration of credibility is heavily tainted by political orientation. Those on the right don't trust the Guardian; those on the left don't trust the Telegraph. Which means that you cannot trust overall figures.

I think it’s gone further than that….the editorials in particular. I think it all went a bit mad with Brexit and then Johnson. “We’ve been Trumped”. Mind you everything seems extreme these days.

In all honesty I think only the FT is sensible these days. Oh and the Croydon Guardian!

 

[imtoooldforthis]

Unfortunately, as you show here, consideration of credibility is heavily tainted by political orientation. Those on the right don't trust the Guardian; those on the left don't trust the Telegraph. Which means that you cannot trust overall figures.

Sorry I worded my post poorly.

I’m not really talking about it being trustworthy or not. I was just under the impression it used to be considered a somewhat highbrow paper back in the 90s but in the past few years (possibly longer, only started noticing it a couple years back) it seems to have gone a lot more tabloidy and has articles that you’d typically expect from papers with far worse reputations.

 

[Tony Edwards]

Ignore that.

 

[Quartz]

Sorry I worded my post poorly.

I’m not really talking about it being trustworthy or not. I was just under the impression it used to be considered a somewhat highbrow paper back in the 90s but in the past few years (possibly longer, only started noticing it a couple years back) it seems to have gone a lot more tabloidy and has articles that you’d typically expect from papers with far worse reputations.

No, it's nowhere near the level of the Mail, Express, or Mirror.

 

[JRS]

Sorry I worded my post poorly.

I’m not really talking about it being trustworthy or not. I was just under the impression it used to be considered a somewhat highbrow paper back in the 90s but in the past few years (possibly longer, only started noticing it a couple years back) it seems to have gone a lot more tabloidy and has articles that you’d typically expect from papers with far worse reputations.

From "Yes, Prime Minister":

HACKER: Don't tell me about the press. I know exactly who reads the papers. The Daily Mirror is read by people who think they run the country; The Guardian is read by people who think they ought to run the country; The Times is read by the people who actually do run the country; the Daily Mail is read by the wives of the people who run the country; the Financial Times is read by people who own the country; the Morning Star is read by people who think the country ought to be run by another country, and the Daily Telegraph is read by people who think it is.

SIR HUMPHREY: Prime Minister, what about the people who read The Sun?

BERNARD: Sun readers don't care who runs the country, as long as she's got big ****.

In 1987. So it's been treated as a joke for a fair old minute at this point.

 

[PlacidCasual]

In 1987. So it's been treated as a joke for a fair old minute at this point.

For most of the noughties it was the highest selling broadsheet in the country. But the Barclay brothers have done a proper job of buggering it up. It has always had a strong political line particularly amongst it's opinion/editorial writers but is by no means a joke paper.