Barclay brothers could yet buy Daily Telegraph after withdrawing offer

0 Comments | AFP, March, 2004

LONDON (AFP) — The British Barclay brothers abandoned their offer to buy Conrad Black's Hollinger International media empire but could still make a bid for the Daily Telegraph, the group's crown jewel.

In bidding for Britain's biggest-selling broadsheet daily, however, they would be expected to face stiff competition from British porn baron, Richard Desmond.

His Northern and Shell group on Tuesday announced it was selling its 45 soft-porn magazine titles -- seen as an obstacle to purchasing the conservative Telegraph.

The British Barclay brothers said on Tuesday that they had withdrawn their offer to buy Black's Hollinger Inc, which controls Hollinger International.

A US court ruled last Thursday against an agreement by Black to sell the group, which...