Details of financing structure to be reviewed by culture secretary and regulators before deal can proceed

The owner of the Daily Mail has secured funding for a £500m takeover of the Telegraph, in a crucial development that paves the way for the group to announce the terms of its acquisition on Monday.

Lord Rothermere’s Daily Mail and General Trust (DMGT) has agreed to pay the sum in two instalments, according to weekend reports. An initial payment of £400m will be funded by an increase in the group’s debt with its longstanding lender NatWest and existing company cash.

With public service broadcasters starting to look like ‘endangered species’, many want Channel 4 and BBC to work more closely

The prospect of Comcast taking over ITV has prompted concerns about the impact on British public service broadcasting, a fact that Channel 4’s new chief executive, moving from a senior post at Sky, will be all too well aware.

Sky’s advertising chief, Priya Dogra, will now be expected to lead the charge to block her former employer’s takeover plan to protect Channel 4.