The owner of the New York Sun is close to acquiring the UK’s Telegraph newspaper for more than £550 million ($722 million), according to the Financial Times.

New York Sun owner Dovid Efune is closing in on a deal to buy the Telegraph for more than £550mn, which would end a 16-month battle for control of the conservative British national newspaper. In a deal expected to be agreed next week,

The owner of the New York Sun is nearing a deal to acquire British newspaper The Telegraph for at least 550M British pounds ($721.5M), the Financial Times reported Sunday. The FT quoted three people close to the talks as saying Dovid Efune is expected to begin exclusive talks with RedBird IMI next week to take control of the 169-year-old