After Rupert Murdoch, 92, announced he is stepping down as chair of Fox Corp. and News Corp. media holdings, effective in November, he is lining up a bid for The Telegraph.
The auction is being run by Lloyds Banking Group and Murdoch is among a dozen potential bidders in a move that stands to impact the news industry in the U.K. and worldwide, according to the report.
There is also reportedly concern by regulators the bidding might merely amount to an intelligence gathering endeavor or to potentially impact the sale of The Telegraph.
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