The owner of The Daily Telegraph, the British media outlet, said on Saturday it was in advanced talks to sell itself to a major rival, a move that would further consolidate the country’s news media.
Telegraph Media Group said it was finalizing terms of a deal to be sold to DMGT, the owner of The Daily Mail, the country’s biggest newspaper by circulation, for 500 million pounds, or $655 million.
The talks came a little over a week after The Telegraph said a previous suitor, the American investment firm RedBird Capital Partners, had walked away from its own £500 million takeover bid.
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