New York Sun owner frontrunner to buy The Telegraph: paper

LONDON: British newspaper The Daily Telegraph reported on Monday that the owner of US news website The New York Sun was leading a year-long pursuit of the right-wing title.

Britain-born businessman Dovid Efune “is poised to enter exclusive talks” to purchase the publication in a deal worth about £550 million ($720 million), The Telegraph said. US-Emirati consortium, RedBird IMI, last year struck a deal for Telegraph Media Group, owner of the newspaper. TMG last month announced a deal to sell British right-wing magazine The Spectator to hedge fund manager Paul Marshall for £100 million.