UK will change law to ban foreign states from owning newspapers
Britain’s government plans to prevent foreign states from owning newspapers, potentially blocking Abu Dhabi-backed RedBird IMI’s bid to buy the Telegraph. The proposed legislation amendment aims to stop newspaper and periodical news magazine mergers involving foreign state ownership, influence, or control. This move is in response to concerns over the independence of the media and foreign investors acquiring politically influential assets. The Telegraph, known for its connections with the Conservative Party, is at the center of this political struggle for ownership. The government’s plan includes referring relevant media mergers to the Competition and Markets Authority (CMA) for assessment of foreign state involvement, with the authority to block or unwind mergers based on the findings.