Gone are the days of the Fleet Street media moguls.

In the legal battle between Howard Barclay and his uncle Sir Frederick Barclay, and Sir Frederick’s ex-wife lady Hiroko following their divorce, Howard told the court that prospective buyers of the Telegraph Media Group regarded as “a distressed asset”  and was “not going to be an easy asset to sell”.

Sir Frederick’s asset could not be accessed without the help of Howard and his brother Adrian sons of Sir Fredrick’s late twin brother. David included in those assets was Sir Frederick’s claim to part of the Telegraph group.

The Telegraph is a solid  profitable business  with over £29.6 million before tax in 2021 and has considerable sway over the centre-Right of British politics and the Conservative Party. According to Howard Telegraph is highly unlikely to be sold at a discount, and process is handled by Goldman Sachs on behalf of Lloyds Banking Group after a bank loan to the Barclay family owners was unpaid. Goldman’s aim is to achieve above the £665 million that the Barclay twins paid for the group in 2004. The Brothers saw off competition from Daily Mail owner DMGT, German monolith Axel Springer and former Mirror boss, David Montgomery. The likely impact on plurality as one man could end up owing two of Britain’s biggest papers. Mail Proprietors Lord Rothermere may not have funding but is prepared to join with backers from Middle East, with Qatar being suggested. And Similar reason for News Corporation, Rupert Murdock’s company would hold too much of UK newspaper market. Another contestant is Martin Clarke, the former Mail Online editor-in-chief who believes at Telegraph’s digital potential.

Lloyds is in no rush but Telegraph is no distressed asset.