Axel Springer acquired Telegraph Media Group for £575m in June, ending three years of uncertainty about its future. Mathias Döpfner, the German chief executive, has a 'bold vision' for the media group, but identifying a gap in the US market is no guarantee of stateside success.
Döpfner's US ambitions
Addressing staff at the London headquarters, Döpfner said: 'The Daily Telegraph can be a global Telegraph. It’s a bold vision, but why not? The centre-right audience is vastly underserved in democracies around the world. So, the biggest opportunity is, of course, the US, the biggest media landscape in the world. What a big white spot the Telegraph can take advantage of.' He also cited opportunities in Asia and Latin America, but US expansion is a top priority, according to a spokesperson.
Challenges in the US market
Andrew Neil, former Sunday Times editor, noted: 'There is a gap in the market. The legacy US newspapers are overwhelmingly on the liberal left. But in my experience, not every gap in the market is a profitable business opportunity. It will require enormous resources. America is a very expensive country to do business in and it’s a big country, so you need deep pockets. No one’s heard of the Telegraph. Even the title – the Telegraph – that’s what they used in cowboy movies … It’s a 10-year project.'
Lionel Barber, former Financial Times editor, said: 'Mathias’s ambition is to be a global media baron. That means you have to be a player in America. He previously wanted to buy the FT. He’s looked at the [Wall Street] Journal. He’s been assembling assets like Politico, but it doesn’t have the scale of the Journal. He needed something else.'
Political positioning and competition
Senior media figures point to a fractured US right. One executive said: 'The kind of highbrow, Trump-curious right is about five people. We’re in the middle of this huge backlash against the Trump administration, so it’s a tricky moment to jump into rightwing media.' Tina Brown, ex-Vanity Fair editor, suggested the Telegraph could target business stars in tech and crypto, while avoiding excess Maga.
The Free Press, launched by Bari Weiss, has found a rightwing audience with anti-woke, anti-cancel culture coverage, potentially making it harder for the Telegraph to find an untapped audience.
Funding and strategy
Telegraph insiders are guessing how the US push will be funded. Some believe money will come from non-editorial posts. Axel Springer has its own cash pile and could use its US assets, Politico and Business Insider, to bolster the Telegraph. However, Brown warned: 'A lot more than they have in mind. A fact that is always true in buying media.'
Barber stressed the need for local hiring: 'You definitely need to hire local – you can’t just have redcoats turning up. Then the question is, how do they connect to London? Because London is still the headquarters.'
