Chelsea co-owner Todd Boehly is reportedly considering a significant investment that could potentially reshape the UK media landscape. His firm, Eldridge Industries, is said to be contemplating a takeover of The Telegraph newspaper and regional publisher National World.
Boehly, who has co-owned Chelsea alongside US private equity firm Clearlake Capital since May 2022, is exploring this potential acquisition through his investment company. This move comes as part of Boehly's broader strategy to expand his business interests beyond sports.
National World has confirmed via the Independent that they received notice from Eldridge Industries about its interest in acquiring the entire company. If Eldridge presents a formal offer, it could trigger a bidding war with UK-based Media Concierge Limited - another shareholder in National World - which recently had its £65.1 million acquisition bid approved by fellow shareholders.
Interest in The Telegraph
Boehly and Eldridge’s interest in The Telegraph dates back to late 2024. The current owners of this iconic national newspaper title are RedBird IMI who acquired it from the Barclay family and are now looking to sell off their stake.
However, their planned takeover was blocked by the UK government due to concerns over part ownership by Manchester City owner Sheikh Mansour bin Zayed al-Nahyan, who also serves as vice-president of UAE.
A partnership with New York-based RedBird Capital Partners was announced back in 2023 but sparked another sale process when RedBird IMI effectively took control of TMG after repaying owner Barclay family’s debts including a £600m loan against titles. In October last year, RedBird IMI announced exclusive talks with Dovid Efune – owner of The New York Sun – for selling off Telegraph at an estimated value around £550 million.
Expanding footprint beyond sports
While Boehly’s investment in Chelsea is not through Eldridge Industries, the acquisition of another storied London-based brand would see his investment footprint in the area increase. This comes at a time when Chelsea are contemplating their future at Stamford Bridge and considering whether they need to move to a new stadium build in London.
The potential takeover of The Telegraph and National World by Eldridge Industries could significantly alter the UK media landscape. It also highlights Todd Boehly's ambition to diversify his investments beyond sports into other sectors. However, it remains to be seen how this potential bidding war will unfold and what impact it will have on these iconic media brands.
