The Middle East consortium behind the proposed takeover of the Telegraph is closing in on a deal to buy another UK media asset.
RedBird IMI, a joint venture between Abu Dhabi’s ruling elite and Gerry Cardinale’s private equity firm RedBird Capital Partners, is in advanced talks to buy All3Media for £1billion.
All3Media is one of the UK’s leading production houses, making shows such as Call The Midwife, Fleabag, Gogglebox and Midsomer Murders.
All3Media is one of the UK’s leading production houses, making shows such as Fleabag (created by and starring Phoebe Waller-Bridge, pictured)
Jointly owned by Warner Bros Discovery and Liberty Global, All3Media was put up for sale earlier this year.
It is understood a deal could be struck before Christmas.
RedBird IMI has been investing in the UK but its deal to take control of the Telegraph and Spectator magazine is facing intense regulatory scrutiny.
The sale of All3Media has drawn interest from bidders including the French TV production group Banijay, Sony, Goldman Sachs and North Road Company.
ITV, which like All3Media counts Liberty Global as a shareholder, was considered the strategic favourite to seal a deal but walked away over the asking price.