Telegraph has ended its two-year uncertainty and is being sold to US private equity company Redbird Capital for £500 million. What does that mean for telegraphy as an event organizer?
Telegraph Events Limited was incorporated in 2009. Over the past decade, we have built a portfolio of events, ranging from political forums and business summits to lifestyle exhibitions.
Some of the main players in this portfolio are the Telegraph Travel Show and the Telegraph Ski & Snowboard Festival. In 2018, The Telegraph held the VC Power Breakfast series, bringing together venture capitalists and entrepreneurs to discuss new business trends.
US private equity will become dominant over owners
Redbird Capital Partners, led by Gerry Cardinale, is now the sole owner of control. The transaction became possible after UK rules were relaxed to allow foreign investors to hold up to 15% stake in news publishers (recent legal changes by the labour government). IMI, the Abu Dhabi Support Fund that previously took over telegraphy, will retain minority share under the new rules.
The IMI is owned by Sheikh Mansoor bin Zayed Al Nahyan, vice-president of the United Arab Emirates and a well-known figure in the Abu Dhabi ruler.
Redbird says it will invest heavily in digital growth, subscriptions and expansion in the US. We also plan to make telegraphs the “power of global journalism.” This includes events.
What does it mean for a telegraph event?
Telegraph has already run several live experiences, including the flagship Telegraph travel show, STEM Awards and the Women Mean Business Live Summit. It also creates live political interviews, premium leader events and subscription-only briefings related to editorial content in the publication.
Due to Redbird’s resources and media ambitions, Telegraph’s event strategy could expand quickly and reach international markets. The amount of funds at the company’s disposal will increase dramatically, but it is not seen whether it will be used to expand the company (and, if so, in which capacity).
Editor Chris Evans said: “There’s so much more to achieve,” CEO Anna Jones added that the new owners will “enact our full potential beyond the scope of our business.”
CMW keeps you up to date with all the news on this front. Acquiring by American private equity is certainly not uncommon, and field development can have lessons from the industry as a whole.
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