The newly appointed directors of The Daily Telegraph s parent company have asked Goldman Sachs to handle an auction that could fetch in the region of £600m, Sky News learns.
Lloyds Banking Group has brought in BT Openreach chairman Mike McTighe to oversee the sale process at the Telegraph Media Group and The Spectator magazine.
The Barclay family tabled an 11th-hour proposal on Wednesday to regain control of the corporate structure which owns the Telegraph newspapers and Spectator magazine, Sky News has learnt.
It appears to be ‘business as usual’ for print and paper suppliers to the Telegraph and Spectator, as the titles are put up for sale in dramatic circumstances.