Chelsea’s Todd Boehly eyes takeover of dozens of native British newspapers

Co-owner of Chelsea Football Club Todd Boehly is considering buying a suite of local British newspapers, including the Yorkshire Post, The Scotsman and The Sheffield Star.

London-listed National World, which was founded by former newspaper executive David Montgomery, told investors on Friday it had received confirmation that Boehly’s Eldridge Media Holdings is considering a takeover bid.

National World was founded as an investment vehicle before acquiring JPIMedia Publishing, formerly Johnston Press, and becoming the owner of 13 regional and city daily newspapers, and over one hundred other franchises in print and online.

While there is no certainty a concrete offer will be made by Eldridge, any offer would disrupt an already-agreed takeover bid from Media Concierge last month.

National World said it will ‘consider the terms of any proposal put forward’ by Boehly’s firm ‘that may deliver superior value to National World Shareholders’ than the Media Concierge offer.

Confirmation of a potential offer followed shortly after Sky News reported Boehly and National World executive chair Montgomery were in talks over a potential bid for The Daily Telegraph.

Weighing a bid: Chelsea co-owner Todd Boehly is considering a takeover offer for National World

In late 2022, National World had considered a swoop for Reach, the owner of the Daily Express and Daily Mirror newspapers.

Reach bought Montgomery’s previous company Local World in November 2015, taking charge of the publisher’s more than 100 regional titles.

National World was launched with the same strategy as Local World, and now also owns the Derry Journal, Edinburgh Evening News, Sunderland Echo, Derbyshire Times and Eastbourne Gazette, among many others.