Private Equity Firm's Bidder Faces Probe Over Alleged Threats to Daily Telegraph's Editorial Independence
The UK government has launched an investigation into a potential breach of editorial independence rules following reports that the new owner of the Daily Telegraph made threatening comments to the newspaper's editor. The boss of US private equity firm RedBird Capital, Gerry Cardinale, allegedly told Telegraph editors that he would "go to war" with their newsroom if they didn't comply with his demands.
Cardinale's comments were revealed in a report to the Department for Culture, Media and Sport (DCMS) by the newspaper's directors. The DCMS is now considering whether Cardinale's actions constitute a breach of legislation protecting the press from external influence.
The Telegraph's former editor Charles Moore had previously reported that inquiries into RedBird Capital's bid had prompted Cardinale to make the threatening remarks, and that there were attempts to remove the current editor Chris Evans. However, Cardinale has since denied any involvement in such activities.
In a statement, RedBird Capital said it is committed to growing the value of its investments through sustainable means, including embracing free speech and independent journalism. The firm claims to have established an independent advisory board tasked with upholding journalistic integrity, which will be chaired by Lord Black.
The saga surrounding the Daily Telegraph's acquisition has been marked by controversy, with foreign state interests involved in the initial purchase and subsequent sale. The newspaper is now being sold again, this time to RedBird Capital, which has vowed to prioritize editorial independence despite Cardinale's comments.
The probe into Cardinale's actions highlights the ongoing tensions between investors seeking to grow their profits and the media industry's need for editorial independence. As the UK government weighs in on the issue, it remains to be seen how this will impact the future of the Daily Telegraph and its commitment to holding those in power accountable.
The UK government has launched an investigation into a potential breach of editorial independence rules following reports that the new owner of the Daily Telegraph made threatening comments to the newspaper's editor. The boss of US private equity firm RedBird Capital, Gerry Cardinale, allegedly told Telegraph editors that he would "go to war" with their newsroom if they didn't comply with his demands.
Cardinale's comments were revealed in a report to the Department for Culture, Media and Sport (DCMS) by the newspaper's directors. The DCMS is now considering whether Cardinale's actions constitute a breach of legislation protecting the press from external influence.
The Telegraph's former editor Charles Moore had previously reported that inquiries into RedBird Capital's bid had prompted Cardinale to make the threatening remarks, and that there were attempts to remove the current editor Chris Evans. However, Cardinale has since denied any involvement in such activities.
In a statement, RedBird Capital said it is committed to growing the value of its investments through sustainable means, including embracing free speech and independent journalism. The firm claims to have established an independent advisory board tasked with upholding journalistic integrity, which will be chaired by Lord Black.
The saga surrounding the Daily Telegraph's acquisition has been marked by controversy, with foreign state interests involved in the initial purchase and subsequent sale. The newspaper is now being sold again, this time to RedBird Capital, which has vowed to prioritize editorial independence despite Cardinale's comments.
The probe into Cardinale's actions highlights the ongoing tensions between investors seeking to grow their profits and the media industry's need for editorial independence. As the UK government weighs in on the issue, it remains to be seen how this will impact the future of the Daily Telegraph and its commitment to holding those in power accountable.
it's all about money, right? the uk gov is finally stepping in to protect the daily telegraph's editorial independence, which is a good thing. but let's be real, this is a slippery slope... what happens when they start dictating what stories get printed and what ones don't? shouldn't journalists be able to make their own decisions about what they cover? 
They think they can just swoop in and own a newspaper, then try to control what gets published? No way, mate! The Daily Telegraph needs to stay independent, not some billionaire making threats over the phone. I remember back in my day, we used to love reading the papers for the journalism, not just for who was buying them. It's all about the cash and profits now, and that's a shame. 
... think it's great that a private equity firm like RedBird Capital is willing to take on a struggling newspaper like the Daily Telegraph. if Gerry Cardinale's just trying to shake things up and bring some fresh blood into the newsroom, i say let him try 
... editorial independence can be overrated, sometimes you need a bit of outside pressure to make things happen 
... all this hand-wringing about "going to war" with the newsroom just seems like corporate speak to me 
I'm so worried about the Daily Telegraph right now... a potential threat to their editorial independence is just too much to handle 
The UK government needs to step in here and make sure the press is protected from external influence 
Gerry Cardinale and his RedBird Capital firm are already making waves with their shady bidding process, now they're threatening the editorial independence of one of the UK's most respected papers? That's a red flag waving loudly 
. I'm all for some profit motive, but not when it comes at the cost of a free press. The fact that the DCMS is even launching an investigation shows they're taking this seriously 
. Lord Black's new advisory board might be a good idea, but it'll be interesting to see how they actually implement these principles without being beholden to Cardinale's interests 
like literally "go to war" w/ the newsroom lol what a thing to do!!! 
anyway tho the gov is investigatin if they breached editorial indep or not & i'm all 4 it 
cuz u cant just buy up media outlets w/o compromisin journalistic integrity 
. A private equity firm making threats to an editor just because they don't want to do things their way? It's like, chill out, right? 
You're not above the law just because you've got deep pockets. The thought of an "independent advisory board" led by Lord Black just sounds like a fancy PR spin 
I'm really worried about the state of our journalism right now. It seems like these private equity firms are more interested in making a profit than in preserving the integrity of the press. 
Gerry Cardinale's comments were completely unacceptable - who threatens to "go to war" with someone over editorial decisions? 
How about you? Do you have any tips for staying informed in a world where the lines between truth and bias are getting harder to see? 
Their spicy tuna roll is out of this world! I swear, every time I go there, I'm like "oh man, I need to get that roll ASAP!" Anyway, back to the news... the whole thing with RedBird Capital and the Daily Telegraph just makes me think about how much some people value their editorial freedom. Like, what's the point of having a press if they're gonna be all afraid of losing money? It's like, don't they know that good journalism can actually increase profits in the long run?! I mean, have you seen those investigative pieces on corruption and stuff? That's where the real value lies!
anyway, i guess its good that the uk gov is on it tho, didnt wanna have some rich dude influencing a major newspaper, thats just not right. but seriously, its like, dont they know how important journalism is for keeping the 1% in check? 
. How can we trust them when Gerry Cardinale made those pretty aggressive comments to the Telegraph editors? It's not like he was just trying to make a point, but actually threatened to disrupt their newsroom if they didn't comply. That's some serious red flags waving here 
.
. Can't have investors just breathing down the necks of editors trying to shape up their reporting 
. Lord Black is like, "Hey, I've got this" 
. But still, you gotta wonder if they're all just playing a game of cat and mouse 
. The gov's investigating, so fingers crossed they don't let RedBird get away with it 
.
. so when Gerry Cardinale made those threatening comments to the Telegraph editors, he was basically saying "you have no other choice but to do what I want" - which is just a fancy way of saying he's scared of losing his grip on things 
. I mean, Gerry Cardinale's comments are super concerning - it sounds like he's trying to strong-arm the newspaper into doing his bidding. The whole thing feels really fishy to me 
. And now the UK government is stepping in to investigate? That's a good move, imo