Chelsea owner Boehly considering deal to buy Newry Reporter publisher National World

Chelsea FC owner Todd Boehly’s investment vehicle has made an approach to buy newspaper group National World, which owns the Newry Reporter.

The publisher, which also owns the Scotsman and Yorkshire Post and a raft of weekly papers across the UK including the Banbridge Chronicle, the Derry Journal and the News Letter, told shareholders on Friday that it received confirmation from Mr Boehly’s Eldridge Media Holdings business that it is “considering making a proposal” to acquire the entirety of the company.

The Newry Reporter office, Margaret Street, Newry.

placeholder image — The Newry Reporter office, Margaret Street, Newry.

It comes shortly after shareholders at National World approved a £65.1 million deal for it to be bought by major shareholder Media Concierge.

Bosses at National World said they will “consider the terms of any proposal put forward by Eldridge that may deliver superior value” compared to the current takeover plan.

Along with the News Letter National World publish titles including The Scotsman and Yorkshire Post. It also publishes a number of newspapers in Northern ireland including Farming Life, Lurgan Mail, Portadown Times, Derry Journal, Coleraine Times, Newry Reporter, Banbridge Chronicle and others

However, the company – founded by former Mirror Group boss David Montgomery – stressed there is still no certainty that a formal offer will be made.

The interest from Mr Boehly comes amid reports that the US businessman is still seeking to buy The Telegraph newspaper business, and would combine this with National World.

Abu-Dhabi-based RedBird IMI has been trying to sell the Telegraph Media Group business after its original takeover of the firm was blocked by UK legislators.

RedBird IMI took control of the media business when it was put on the market in 2023 in order to help previous owners, the Barclay family, repay heavy debts to lenders at Lloyds bank.

The deal drew fierce criticism over free speech concerns before it was ultimately blocked by the Government earlier this year, resulting in the sale process.

In October, the seller announced that owner of The New York Sun, Dovid Efune, entered exclusive talks to buy the Telegraph in a deal worth around £550 million.

However, RedBird IMI is understood to now be considering a variety of potential deals, including Mr Efune, amid difficulties from the proposed buyer to quickly secure financing.

National World was among the firms vying with Mr Efune to take control of the influential media company.

It was also reported in December that Mr Boehly held talks over potentially being involved in a deal to buy the Telegraph.