Merger Update: DMGT/Telegraph Media Group

Public Interest Intervention Notice: Daily Mail and General Trust plc / Telegraph Media Group

On 12 February 2026, the Secretary of State for Culture, Media & Sport (the Secretary of State) issued a public interest intervention notice (PIIN) pursuant to section 42 of the Enterprise Act 2002 (the Act) in relation to the anticipated acquisition by Daily Mail and General Trust plc of Telegraph Media Group Holdings Limited.

The PIIN requires the Competition and Markets Authority (CMA) to report to the Secretary of State on jurisdictional and competition matters, and for the Office of Communications (Ofcom) to report to the Secretary of State on the impact of the transaction on the media public interest considerations identified in the PIIN by 9:00am on 10 June 2026.

CMA Invitation to comment: closes 5:00pm 27 February 2026

The CMA is required to submit a report to the Secretary of State on this transaction in accordance with section 44 of the Act by 9:00am on 10 June 2026.

For the purposes of this report, the CMA is considering whether it is or may be the case that this transaction, if carried into effect, would result in the creation of relevant merger situation under the merger provisions of the Act and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market(s) in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invites comments on jurisdiction and competition issues from any interested party.

These comments should be provided by 5:00pm on 27 February 2026 to:

dmgt.telegraph@cma.gov.uk 

Daniel Norcott

daniel.norcott@cma.gov.uk 

Jeremy Chan

jeremy.chan@cma.gov.uk 

Your name and contact details are your personal data. In collecting, receiving, storing, accessing and using your personal data, the CMA, as controller, is processing your personal data. The CMA processes personal data in accordance with data protection law. The CMA is processing your personal data so that it can contact you again, should it need further help or information from you, in order to carry out its merger work under Part 3 of the Enterprise Act 2002. For more information about how the CMA processes personal data and your rights relating to that data, please see our Privacy Notice.

Ofcom invitation to comment: closes 5:00pm 27 February 2026

Ofcom is required to submit a report to the Secretary of State on this transaction in accordance with section 44A of the Act by 9:00am on 10 June 2026.

For the purpose of this report, Ofcom is investigating how the transaction may affect the following public interest considerations specified in sections 58(2B) and 58(2C)(A) of the Act and identified in the PIIN, as potentially relevant to consideration of the transaction:

●       the need for, to the extent that it is reasonable and practicable, a sufficient plurality of views in news media in each market for news media in the United Kingdom or a part of the United Kingdom; and

●       the need, in relation to every different audience in the United Kingdom or in a particular area or locality of the United Kingdom, for there to be a sufficient plurality of persons with control of the media enterprises serving that audience.

Written representations about any public interest issues should be provided to Ofcom by 5:00pm on 27 February 2026 to:

PublicInterestTest2026@ofcom.org.uk