UAE money may help the Barclay family to regain control of the UK’s Daily Telegraph newspaper, the Telegraph writes. The media barons have offered to pay the full GBP 1.2 bn debts they owe Lloyds Banking Group. They are backed in this endeavor by investment vehicle RedBird IMI, a JV between RedBird Capital Partners and the UAE’s own International Media Investments. RedBird IMI, headed by ex-CNN chief Jeff Zucker, has no stated plans to own shares in the British newspaper or take seats on its board.

The backstory: The Lloyds Banking Group seized Telegraph Media Group after the Barclay family failed to repay their debts back in June — the newspaper was put up for auction through a formal process led by Goldman Sachs, the Financial Times reported.

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