<p>The UK government has announced a ban on foreign governments owning British newspapers and news magazines. This announcement follows concerns over a proposed Daily Telegraph and Spectator takeover by a United Arab Emirates-backed investment firm, RedBird IMI.</p>

<h2><strong>Why is such a ban necessary?</strong></h2>

<p>As per a BBC report, the proposed ban, to be introduced as an amendment to the Digital Markets, Competition and Consumers Bill, would "deliver additional protections for a free press".&nbsp;</p>

<p>Lord Parkinson of Whitley Bay announcing the ban said the new law would "rule out newspaper and periodical news magazine mergers involving ownership, influence or control by foreign states".</p>

<p>Labour has indicated support for the change, which comes amidst cross-party pressure on the government to address the issue.&nbsp;</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/britain-redefines-extremism-in-the-face-of-rising-hate-crimes-critics-call-it-a-threat-to-free-speech-699848">Britain redefines 'extremism' in the face of rising hate crimes, critics call it a threat to free speech</a></strong></p>

<p>As per Lord Parkinson, the ban would not apply to broadcasters.</p>

<p>The proposed ban will refer proposed media mergers involving foreign states to the Competition and Markets Authority for investigation, with the Secretary of State required to block or unwind any merger resulting in foreign state ownership, influence, or control, he explained.</p>

<p>The move comes as RedBird IMI continues its efforts to take control of the Daily and Sunday Telegraph newspaper titles and Spectator magazine. The fund, largely owned by Sheikh Mansour of the UAE, faced growing political opposition.</p>

<h2><strong>RedBird IMI reacts</strong></h2>

<p>Reacting to the government's decision, a spokesperson for RedBird IMI said they were "extremely disappointed by today's development" and stated they "remain committed" to investing in global media.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/un-report-finds-israels-killing-of-journalist-in-lebanon-a-clear-violation-of-international-law-699846">UN report finds Israel's killing of journalist in Lebanon a clear violation of international law</a></strong></p>

<p>"We will now evaluate our next steps, with commercial interests continuing to be the sole priority."</p>

<p>"To date, Redbird IMI has made six investments across the UK and US, and we believed the UK's media environment was worthy of further investment.</p>

<p>"As with each of our deals, we have been clear that the acquisition of The Telegraph and The Spectator has been a fully commercial undertaking."</p>

<p>However, the company's bid for the newspapers looks likely to fail, reported BBC citing sources close to the matter.</p>

<p><strong>Watch |&nbsp;UK MPs warn against UAE takeover of Telegraph</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/uk-mps-warn-against-uae-takeover-of-telegraph-661963/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>Andrew Neil, chairman of the Spectator, also noted that the UAE bid "now looks dead in the water". Former Daily Telegraph editor Lord Moore of Etchingham remarked that such a rule should have existed from the start to provide clarity on proposed takeovers.</p>

<p>Baroness Stowell, chair of the Communications and Digital Committee, emphasised the importance of preventing foreign powers from acquiring UK news media organizations.&nbsp;</p>

<p>"Allowing foreign governments to own such a critical and sensitive part of our nation would damage public confidence in all of us yet further if it was allowed to happen," she said.</p>

<p><em>(With inputs from agencies)</em></p>


The UK government has announced a ban on foreign governments owning British newspapers and news magazines. This announcement follows concerns over a proposed Daily Telegraph and Spectator takeover by a United Arab Emirates-backed investment firm, RedBird IMI.

The UK government has announced a ban on foreign governments owning British newspapers and news magazines. This announcement follows concerns over a proposed Daily Telegraph and Spectator takeover by a United Arab Emirates-backed investment firm, RedBird IMI. Why is such a ban necessary? As per a BBC report, the proposed ban, to be introduced as an amendment to the Digital Markets, Competition and Consumers Bill, would "deliver additional protections for a free press". Lord Parkinson of Whitley Bay announcing the ban said the new law would "rule out newspaper and periodical news magazine mergers involving ownership, influence or control by foreign states". Labour has indicated support for the change, which comes amidst cross-party pressure on the government to address the issue. Also read | Britain redefines 'extremism' in the face of rising hate crimes, critics call it a threat to free speech As per Lord Parkinson, the ban would not apply to broadcasters. The proposed ban will refer proposed media mergers involving foreign states to the Competition and Markets Authority for investigation, with the Secretary of State required to block or unwind any merger resulting in foreign state ownership, influence, or control, he explained. The move comes as RedBird IMI continues its efforts to take control of the Daily and Sunday Telegraph newspaper titles and Spectator magazine. The fund, largely owned by Sheikh Mansour of the UAE, faced growing political opposition. RedBird IMI reacts Reacting to the government's decision, a spokesperson for RedBird IMI said they were "extremely disappointed by today's development" and stated they "remain committed" to investing in global media. Also read | UN report finds Israel's killing of journalist in Lebanon a clear violation of international law "We will now evaluate our next steps, with commercial interests continuing to be the sole priority." "To date, Redbird IMI has made six investments across the UK and US, and we believed the UK's media environment was worthy of further investment. "As with each of our deals, we have been clear that the acquisition of The Telegraph and The Spectator has been a fully commercial undertaking." However, the company's bid for the newspapers looks likely to fail, reported BBC citing sources close to the matter. Watch | UK MPs warn against UAE takeover of Telegraph Andrew Neil, chairman of the Spectator, also noted that the UAE bid "now looks dead in the water". Former Daily Telegraph editor Lord Moore of Etchingham remarked that such a rule should have existed from the start to provide clarity on proposed takeovers. Baroness Stowell, chair of the Communications and Digital Committee, emphasised the importance of preventing foreign powers from acquiring UK news media organizations. "Allowing foreign governments to own such a critical and sensitive part of our nation would damage public confidence in all of us yet further if it was allowed to happen," she said. (With inputs from agencies)

UK bans foreign ownership of newspapers, putting UAE-backed takeover of Telegraph in jeopardy

<p>In what comes as a blow to the proposed takeover of the Telegraph newspaper by a consortium backed by the UAE, the British government on Thursday (Nov 30) said&nbsp;it had triggered a formal probe, citing public interest grounds.&nbsp;</p>

<p>UK Culture Secretary Lucy Frazer wrote a letter to the Barclay family that owns Telegraph Media Group (TMG) and RedBird IMI - the company set to take over the media house, stating that she was issuing a&nbsp;Public Interest Intervention Notice (PIIN) in relation to the deal.</p>

<p>"This relates to concerns I have that there may be public interest considerations... that are relevant to the anticipated acquisition of TMG by RedBird IMI and that these concerns warrant further investigation," Frazer wrote.&nbsp;</p>

<p>The in-depth inquiry will be conducted by Ofcom - a media regulator, to ascertain if the complex deal could impede the accurate presentation of news, free expression of opinion and sufficient plurality of views.&nbsp;&nbsp;</p>

<p>Meanwhile, the Competition and Markets Authority (CMA) will look into any competition issues and if the new entity could pose a problem to the established journalistic setup in the country.&nbsp;</p>

<p>Both Ofcom and CMA have been given time until January 26, 2024, to prepare a report and present it to the government.&nbsp;</p>

<p>Since the announcement of the deal, there has been a major furore within the journalism and political circles. The Tories have expressed apprehensions over the deal saying<strong>&nbsp;</strong>“influence over a quality national newspaper being passed to a foreign ruler at any time should raise concerns [and] must be investigated”.</p>

<p><a href="https://www.wionews.com/videos/uk-mps-warn-against-uae-takeover-of-telegraph-to-review-proposed-sale-of-telegraph-media-group-661896"><strong>Watch |&nbsp;UK MPs warn against UAE takeover of Telegraph, to review proposed sale of Telegraph Media Group</strong></a></p>

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<h2><b>The face behind the deal</b></h2>

<p>Notabbly. RedBird IMI is a joint venture between the US company RedBird Capital and International Media Investments (IMI) of Abu Dhabi, the investment vehicle for Sheikh Mansour bin Zayed Al Nahyan.</p>

<p>Sheikh Mansour is a known face in the UK. He bought Premier League club Manchester City in 2008, transforming the mid-table club into treble winners.</p>

<p><a href="https://www.wionews.com/world/inside-uaes-sheikh-mansours-bid-to-buy-the-telegraph-newspaper-662714"><strong>Also read |&nbsp;Inside UAE's Sheikh Mansour's bid to buy The Telegraph newspaper</strong></a></p>

<p>However, the club is currently under investigation for breaching Financial Fair Play (FFP) rules among other charges. According to reports, the club breached 115 regulations since the start of the 2009-10 season.&nbsp;</p>

<p>Hence, there has been a degree of uneasiness among the higher echelons of British bureaucracy over the proposed deal. If the takeover goes through, UAE will have control of&nbsp;The Daily and Sunday Telegraph sister newspapers and The Spectator magazine.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>


In what comes as a blow to the proposed takeover of the Telegraph newspaper by a consortium backed by the UAE, the British government on Thursday (Nov 30) said it had triggered a formal probe, citing public interest grounds.

In what comes as a blow to the proposed takeover of the Telegraph newspaper by a consortium backed by the UAE, the British government on Thursday (Nov 30) said it had triggered a formal probe, citing public interest grounds. UK Culture Secretary Lucy Frazer wrote a letter to the Barclay family that owns Telegraph Media Group (TMG) and RedBird IMI - the company set to take over the media house, stating that she was issuing a Public Interest Intervention Notice (PIIN) in relation to the deal. "This relates to concerns I have that there may be public interest considerations... that are relevant to the anticipated acquisition of TMG by RedBird IMI and that these concerns warrant further investigation," Frazer wrote. The in-depth inquiry will be conducted by Ofcom - a media regulator, to ascertain if the complex deal could impede the accurate presentation of news, free expression of opinion and sufficient plurality of views. Meanwhile, the Competition and Markets Authority (CMA) will look into any competition issues and if the new entity could pose a problem to the established journalistic setup in the country. Both Ofcom and CMA have been given time until January 26, 2024, to prepare a report and present it to the government. Since the announcement of the deal, there has been a major furore within the journalism and political circles. The Tories have expressed apprehensions over the deal saying “influence over a quality national newspaper being passed to a foreign ruler at any time should raise concerns [and] must be investigated”. Watch | UK MPs warn against UAE takeover of Telegraph, to review proposed sale of Telegraph Media Group × The face behind the deal Notabbly. RedBird IMI is a joint venture between the US company RedBird Capital and International Media Investments (IMI) of Abu Dhabi, the investment vehicle for Sheikh Mansour bin Zayed Al Nahyan. Sheikh Mansour is a known face in the UK. He bought Premier League club Manchester City in 2008, transforming the mid-table club into treble winners. Also read | Inside UAE's Sheikh Mansour's bid to buy The Telegraph newspaper However, the club is currently under investigation for breaching Financial Fair Play (FFP) rules among other charges. According to reports, the club breached 115 regulations since the start of the 2009-10 season. Hence, there has been a degree of uneasiness among the higher echelons of British bureaucracy over the proposed deal. If the takeover goes through, UAE will have control of The Daily and Sunday Telegraph sister newspapers and The Spectator magazine. (With inputs from agencies)

'Setback for Barclay family?': UK government to probe proposed Telegraph takeover by UAE-backed consortium

According to statements made in the public interest, the UK government plans to examine the proposed sale of the Telegraph Media Group to an investment fund backed by Abu Dhabi. The fund, RedBird IMI, declared on Monday that it was going to seize ownership of The Spectator magazine, The Daily Telegraph, and The Sunday Telegraph, which are sister newspapers.

UK government to review the proposed sale of the Telegraph Media Group