Former UK Prime Minister Boris Johnson has been approached for a prominent role with the Daily Telegraph by Nadhim Zahawi, the former Conservative Chancellor, as Zahawi explores a potential bid for the newspaper group.
According to reports, Zahawi has informally discussed with several investors the possibility of offering Johnson the position of global editor-in-chief at the Telegraph if his bid proves successful. However, no formal negotiations have taken place, and there is no firm agreement as of yet, Sky News reports.
Johnson, who currently writes a column for the Daily Mail, has a notable history with the Telegraph. He began his career there as a Brussels correspondent, where he gained attention for his stories on EU regulations, and later served as a political columnist before entering politics.
Zahawi, who stepped down as an MP in July, was initially involved in the discussions surrounding the future of the Telegraph as an intermediary. He facilitated connections between Redbird IMI, a UAE-backed consortium, and the Barclay family, the previous owners of the Telegraph newspapers and the Spectator magazine.
RedBird IMI, backed by Sheikh Mansour bin Zayed al-Nahyan, UAE vice-president, and US investment firm RedBird Capital Partners, acquired the Telegraph group in December by settling the Barclay family’s debts, including a £600 million loan. However, the deal faced complications when the UK government introduced legislation aimed at preventing foreign states or associated individuals from owning UK newspaper assets.
Following these legislative hurdles, RedBird IMI was forced to put the Telegraph group back on the market in April, with the deadline for initial bids closing in mid-July. Despite interest from various parties, some, including Lord Rothermere, owner of the Daily Mail, have withdrawn due to concerns over potential lengthy and complex regulatory challenges.
As the auction continues, Zahawi’s bid and the potential involvement of Johnson remain closely watched developments in the media landscape.