Jeff Zucker is nearing a major deal to re-enter the news business

Now he’s looking abroad for a big return to the news business.

The Telegraph was auctioned this year after its owners, the Barclay family, defaulted on a loan. The newspaper, also called The Torygraph because of its influence on British conservative politics, attracted powerful suitors such as Rupert Murdoch and Lord Rothermere, owner of London’s Daily Mail.

The auction was halted on Tuesday after Mr Zucker’s proposal, which relies on about 1.1 billion pounds (or about $1.4 billion) from RedBird IMI, the media company he founded last year, and a major investment fund from Abu Dhabi. After a series of financial maneuvers, RedBird IMI would take over ownership and management of The Telegraph and The Spectator. Redbird IMI said its partner in the Emirates would be a passive investor.

Mr. Zucker declined to comment, citing ongoing negotiations. But his vision for The Telegraph includes a potential expansion into the United States, where Mr. Zucker believes a market has emerged for a center-right news publication, according to a person with knowledge of his thinking who requested anonymity because the deal did not materialize Closed. .

Mr. Zucker does not plan to oversee the day-to-day reporting, the person said. Instead, he will focus on The Telegraph’s business strategy and building its presence abroad; he won’t move to London. Still, Mr. Zucker has a reputation as a hands-on manager that dates back to his 20s when he ran NBC’s “Today” show; He later became CEO of NBCUniversal before being forced out in 2011.

The deal could still fail and regulatory hurdles remain.

RedBird IMI is a joint venture between RedBird Capital, a private equity firm, and a private investment fund managed by Sheikh Mansour bin Zayed al Nahyan, an Emirati royal. The involvement of Middle Eastern interests has raised concerns among members of Parliament about foreign influence over the British media. In a letter to regulators, six Conservative Party politicians warned that RedBird IMI’s proposal “poses a potential threat to press freedom in this country.” Any deal could trigger further government scrutiny.