Ban on foreign state ownership of UK newspapers effectively halts UAE takeover of Telegraph

Telegraph ^ | March 14 | Story by Ben Riley-Smith, Nick Gutteridge

[RandFan]

Foreign state control of British newspapers is to be outlawed, effectively blocking the UAE’s attempted takeover of The Telegraph.

Ministers revealed plans on Wednesday “explicitly to rule out newspaper and periodical news magazine mergers involving ownership, influence or control by foreign states”.

The move, announced by Lord Parkinson, the culture minister, was made to see off a rebellion being led by a Tory peer and sparked by The Telegraph’s predicament.

RedBird IMI, a fund 75 per cent backed by Sheikh Mansour bin Zayed Al Nahyan, the UAE vice-president, had positioned itself to take control of The Telegraph and The Spectator magazine by repaying the debts of the Barclay family, the current owners.

The takeover has been under scrutiny from the Government using existing powers to protect press freedom, but MPs and peers across Parliament have demanded tighter laws against foreign state control.

Peers argued during a debate in the House of Lords on Wednesday that letting a foreign state own a British newspaper would be “outrageous” and “inconceivable”.

[TangoLimaSierra]

The Telegraph is the only non-liberal news org. in the UK as far as I know.

[algore]

but in the US of A it is totally fine for George Soros to buy a large portion of AM broadcast stations.

[aimhigh]

The Telegraph is the only non-liberal news org. in the UK as far as I know.

If the TIKTOK bill passes, I expect it to be used against the UK Daily and the Telegraph.