Abu Dhabi-Backed Fund Targets Telegraph Control on Loan Deal (1)

RedBird IMI has agreed a loan package with the Barclay family that would let it take control of the Telegraph newspaper and Spectator magazine, a prospect that’s sparked concern among Conservative lawmakers because of the fund’s ties to Abu Dhabi.

The media investment vehicle, which is a joint venture between RedBird Capital Partners and the United Arab Emirates-based International Media Investments, said in a statement Monday that it had agreed to lend the Barclay family £600 million ($750 million), secured against the politically influential titles.

“Under the terms of this agreement, RedBird IMI has an option to convert the ...