Consortium led by RedBird Capital agrees to buy Telegraph for £500m

Deal with US private equity firm will end two years of uncertainty over future of titles

A consortium led by the US private equity company RedBird Capital has agreed to buy the Telegraph for 500m, bringing an end to two years of uncertainty over the future ownership of the titles.

The company's founder, Gerry Cardinale, has signed a deal in principle that will result in the Daily Telegraph and Sunday Telegraph coming under the ownership of a consortium that includes British investors.