The Daily Telegraph, Sunday Telegraph and The Spectator magazine are making their own headlines today as they move towards going up for sale in the wake of collapsed talks between current owners and lenders Lloyds Banking Group (LBG).

The Press Gazette reports LBG "has effectively repossessed Telegraph Media Group and The Spectator over an outstanding debt owed by the Barclay family which is reported to total around £1bn".

The loans reportedly extend back to before the 2008 financial crisis.

The Barclay family, billionaire owners of the Telegraph Media Group, have denied claims that the business could face administration. The Telegraph is, with the Financial Times, the UK's last surviving daily broadsheet and dates back to 1855.

As possible further assurance to media watchers over today's debacle, the title has published every issue under the slogan "Was, is, and will be".

The titles were bought in 2004 for £665m by Sir Frederick and his twin brother Sir David Barclay, who died in 2021 and whose son, Aidan, 67, now manages the family business with brother Howard, 63. The family's portfolio of brands includes courier Yodel and online retailer Very.

The dispute centres around LBG appointing AlixPartners, corporate finance advisory, as the official receivers for B.UK, the holding company controlled by the Barclays that owns the publications.

The lender, it is reported, will work with the receivers in a bid to secure the sale of the Telegraph and other titles to recover debts owed by the network of holding companies.

Advisers from Lazard are to oversee the proposed sale process, says Sky News, and the daily operation of the publications will continue as normal, according to AlixPartners.

AlixPartners said: "The receivership over the shares in B.UK Limited is in no way related to the financial health or performance of the Telegraph or Spectator businesses and we do not anticipate any operational changes to the businesses or their employees."

"Neither the Telegraph Media Group nor the Spectator are entering administration."

AlixPartners added that family members Howard and Aidan Barclay have been removed as directors of the business.

The Barclay family said in a statement: "Speculation about the business entering administration is unfounded and irresponsible."

Discussions with Lloyds are ongoing, the statement added, and the family hope to reach an agreement that satisfies all parties involved.

Industry analysts put the value of the three titles at between £500m and £600m. Among possible replacement owners, if a sale proceeds, former editor-in-chief of the Telegraph, William Lewis, is seeking private backing to lodge a bid.

Other potential bids may come from Daily Mail publishers DMGT and News Corp to GB News investor Paul Marshall, while German publisher Axel Springer and Belgian news group Mediahuis are also, says the Press Gazette "acquisitive publishers who are likely to show an interest".