Reports overnight said Lloyds Banking Group is threatening to put Press. Acquisitions, the holding company that owns Telegraph Media Group, into receivership. There has been a breakdown in talks on loans, said the reports.
Lloyds is owed tens of millions of pounds by the media group, said Sky, which reported that the bank is being advised by Lazard on its strategy.
The Telegraph Group was bought by Sir David and Sir Frederick Barclays in 2004 for £665 million. Last year, it had revenues of £245 million on which it made a profit of nearly £30 million. It also owns The Spectator.
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