TELEGRAPH MEDIA GROUP HOLDINGS LIMITED

• ◆

  Material uncertainty over going concern

  However, members of the Group and its parent entities, remain involved in the potential transaction relating to TMGH described above which is expected to complete imminently and would result in a change in the Group and Company's controlling party and directors in the going concern period. The current directors may not remain on the boards of the Group and Company after a transaction is consummated, and as such do not have certainty on the plans of the future directors of the Group and Company, including any financing arrangements, which creates a material uncertainty which may cast significant doubt about the Group and Company's ability to continue as a going concern.

• ·

  Going-concern uncertainty disclosed

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  Negative shareholders' funds

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. Year-on-year comparison hidden: this filing covers about 12 months versus 12 months prior. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. TELEGRAPH MEDIA GROUP HOLDINGS LIMITED 2023-11-07 → present
2. HACKREMCO (NO. 2679) LIMITED 2022-12-20 → 2023-11-07

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“However, members of the Group and its parent entities, remain involved in the potential transaction relating to TMGH described above which is expected to complete imminently and would result in a change in the Group and Company's controlling party and directors in the going concern period. The current directors may not remain on the boards of the Group and Company after a transaction is consummated, and as such do not have certainty on the plans of the future directors of the Group and Company, including any financing arrangements, which creates a material uncertainty which may cast significant doubt about the Group and Company's ability to continue as a going concern.”

Group structure

1. TELEGRAPH MEDIA GROUP HOLDINGS LIMITED · parent
   1. The Chelsea Magazine Company Limited 100% · United Kingdom · Magazine publisher
   2. Chelsea Magazine Inc 100% · USA · Magazine publisher
   3. TMG Innovations Limited 100% · United Kingdom · Holding company
   4. Telegraph Publishing Limited 100% · United Kingdom · Employing company

Significant events

• “On 15 May 2023, Bank of Scotland ... appointed Alastair Beveridge and Ben Browne of AlixPartners as receivers ... Following their appointment, independent directors ... were appointed to the boards of B. UK. Limited and certain of its subsidiaries.”
• “In October 2023, the board of PAL launched a sales process of the TMG business... suspended because PIHL reached an agreement for the Debt to be refinanced in full by certain entities controlled by Redbird IMI.”
• “On 16 December 2025, Daily Mail and General Trust ("DMGT") announced that Redbird IMI had written to the Secretary of State for DCMS requesting permission to transfer its interest in the TMG business ... to DMGT.”
• “On 6 March 2026, Axel Springer announced that it had agreed to acquire the TMG business in a deal valued at £575 million.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

12

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.