Telegraph journalists, weary of the prolonged auction of their papers to a new owner, got a well-needed morale boost this week.
Chief executive Jeremy Deedes sent a note to all staff praising their outstanding work over the previous weekend: “The Normandy coverage in Monday’s paper was the Daily Telegraph at its best – both in words and pictures. The Sunday Telegraph did brilliantly to produce by far the most comprehensive account of President Reagan’s death, the announcement of which came at the worst possible time at 10.15 pm (Saturday). Against the background of the current uncertainty, all those concerned should be very proud,” he wrote.
The result of the auction should have been known this week. It is now more likely to be next week.
The Barclays, owners of The Scotsman; venture capitalist 3i advised by former Mirror Group chief David Montgomery; and Daily Mail & General Trust together with a venture capital partner, probably CVC, are left in the bidding. The original floor of £600m is expected to have risen closer to the £700m mark.
By Jean Morgan