Barclay Brothers buy Telegraph newspapers

0 Comments | AFP, July, 2004

LONDON (AFP) — The British Barclay brothers have bought the Telegraph newspaper titles from US-based Hollinger International after a long-running battle, their company announced.

"Press Holdings Limited is delighted to confirm the completion today of its deal to acquire the Telegraph Group from Hollinger International Inc," the company said in a statement Friday.

"This brings to an end months of uncertainty for the Telegraph Group, its titles and employees."

The clinching of the deal came a day after a US judge rejected a lawsuit by tycoon Conrad Black seeking a shareholder vote that would have delayed the transaction.

Vice Chancellor Leo Strine of the Delaware Chancery Court rejected the petition from Black to force a vote by shareholders of the...