Britain's Daily Mail publisher enters exclusive talks to buy Telegraph Media Group for $654 million

The publisher of Britain's Daily Mail has entered exclusive talks to buy Telegraph Media Group in a deal that would link two news groups that have traditionally supported the right-leaning Conservative Party. Daily Mail and General Trust plc said on Saturday that the talks were designed to finalize the terms of a 500 million-pound ($654-million) deal to buy the Telegraph from an Abu Dhabi-backed venture known as Redbird IMI. The proposed transaction comes after concerns about foreign ownership of British news organizations stalled Redbird IMI’s efforts to take control of the Daily Telegraph and its sister Sunday publication two years ago.