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Article: The twins win; The Hollinger affair.(The Hollinger affair, continued)
- Article from:
- The Economist (US)
- Article date:
- June 26, 2004
CopyrightCOPYRIGHT 2004 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Black and white, not read all over
The Barclay twins win the Telegraph, unless Conrad Black stops them
WHY Britain's most reclusive businessmen want the publicity that owning a famous newspaper brings is a mystery. But the Barclay twins wanted Britain's Daily Telegraph so badly that, after failing to get it earlier this year, they eventually agreed to pay the sort of price--[pounds sterling]665m ($1.2 billion)--that only a trophy asset can attract. They outbid 3i and Veronis Suhler Stevenson, a team of two private-equity firms motivated mainly by the paper's ability to make money. The Barclays are being hailed as heroes at the Telegraph Group, where many ...