Journalists noted ongoing controversy and signaled that more details were forthcoming as the situation evolved.

A Telegraph spokesman affirmed ongoing support for the publication and a commitment to finding a solution that benefits staff and readers despite the bid’s withdrawal.

RedBird announced the withdrawal, emphasizing confidence in the Telegraph’s future and a commitment to minimize disruption while supporting employees and readers.

Culture Secretary Lisa Nandy had been expected to decide soon on whether the bid could proceed and whether Ofcom and the competition watchdog should review it.

RedBird IMI, a joint venture between RedBird Capital Partners and UAE state-owned IMI, had proposed to become the Telegraph Media Group’s controlling or near-controlling partner by investing in digital operations, subscriptions, and journalism to expand the Telegraph internationally.

The Telegraph has attracted takeover interest for more than two years, but previous attempts were blocked by the UK government over concerns about foreign state ownership of the press.

Under the proposed structure, IMI would hold up to 15% as part of a consortium, following MPs’ changes allowing foreign minority ownership in UK newspapers.

Looking forward, leadership questions and newsroom morale persist, as any new bid would need to balance editor independence, investor assurance, and the paper’s market valuation.

The bid’s collapse followed sustained newsroom criticism of alleged links to China, prompting calls for an investigation.

The Department for Culture, Media and Sport declined to comment on the withdrawal, and Telegraph Media Group did not respond to requests for comment.

RedBird stated it remains confident in the Telegraph and its team and aims to help secure a solution beneficial to employees and readers.

Analysts estimate a realistic valuation around £350 million, with £500 million cited as a sticking point; a new sale process could attract bidders like Marshall at a potentially lower price.

With RedBird out, Telegraph Media Group’s future remains uncertain, and management says it will minimize disruption and coordinate with stakeholders, including DCMS.