Telegraph Media Group (TMG) has been acquired by US private equity firm RedBird Capital Partners in a deal worth £500m.

The move will see RedBird become the sole control owner of the Daily Telegraph and Sunday Telegraph and marks the largest investment in UK print media in a decade.

RedBird suggested that a key part of its strategy is expanding The Telegraph’s global reach, particularly in the US. The company’s growth strategy will also include capital investment in TMG’s digital operations to continue driving subscriptions, using data analytics and artificial intelligence tools to expand the value proposition to its core subscriber base and potential new subscribers.

Together, RedBird and TMG’s senior leadership will work to develop new content in areas such as travel and events, as part of an effort to maximise commercial opportunities from an international subscriber base.

RedBird founder and managing partner, Gerry Cardinale, said: “This transaction marks the start of a new era for The Telegraph as we look to grow the brand in the UK and internationally, invest in its technology and expand its subscriber base.

“We believe that the UK is a great place to invest, and this acquisition is an important part of RedBird’s growing portfolio of media and entertainment companies in the UK.”

TMG CEO, Anna Jones, added: “RedBird has exciting growth plans that build on our success – and will unlock our full potential across the breadth of our business.”

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