German media group Axel Springer will buy the publisher of UK’s Daily Telegraph for $766 million

LONDON (AP) — German media group Axel Springer has agreed to buy the owner of Britain’s Daily Telegraph newspaper for 575 million pounds ($766 million), the companies announced Friday.

The agreement ends a long saga over ownership of the Telegraph Media Group, which publishes the 171-year-old, conservative-leaning Daily Telegraph and its Sunday sister paper.

Axel Springer said it will invest in the group “to enable it to become the leading center-right media outlet in the English-speaking...