<o:p></o:p>

The UK government has announced plans to prohibit foreign state ownership of newspapers and news magazines in ordered to maintain the integrity of the British press. <o:p></o:p>

According to reports, the decision comes while concerns increase over a proposed takeover bid of the Daily Telegraph and Spectator by a United Arab Emirates-backed investment firm, RedBird IMI. <o:p></o:p>

Key details<o:p></o:p>

According to the BBC, the government, through media minister Stephen Parkinson, unveiled its intention to amend legislation to enforce the ban on foreign state ownership of newspapers. <o:p></o:p>

This announcement, made in the House of Lords, signals a significant shift in policy to prevent undue external influence on British media outlets.<o:p></o:p>

Pressure had been mounting on the government to intervene amidst growing concerns over the proposed takeover bid by RedBird IMI, which holds a 75 per cent stake in the investment venture. <o:p></o:p>

The bid, backed by UAE Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan, raised serious apprehensions about potential foreign control over critical elements of the British press.<o:p></o:p>

Labour has expressed its support for the proposed legislative amendment, signalling cross-party consensus on the issue.<o:p></o:p>

The proposed ban, if enacted, would not apply to broadcasters, clarifies Lord Parkinson. <o:p></o:p>

This exclusion reflects a targeted approach to safeguarding the print media from foreign state influence while maintaining the autonomy of broadcasting channels, a BBC report said.<o:p></o:p>

Implications and reaction<o:p></o:p>

The announcement of the ban has dealt a significant blow to the RedBird IMI takeover bid, with industry insiders suggesting that the prospects of its success are diminishing rapidly. <o:p></o:p>

Key stakeholders, including Spectator chairman Andrew Neil, have welcomed the government's intervention, asserting that it represents a vital step in protecting the integrity of British journalism.<o:p></o:p>

The proposed amendment to the Digital Markets, Competition and Consumers Bill is expected to be met with widespread support in Parliament, reflecting a united front in defence of press freedom.<o:p></o:p>

Despite assurances from RedBird IMI that the bid was a purely commercial endeavour, concerns persist over the potential implications of foreign ownership on journalistic independence. <o:p></o:p>

(With inputs from AFP)<o:p></o:p>

The UK government has announced plans to prohibit foreign state ownership of newspapers and news magazines in ordered to maintain the integrity of the British press.

The UK government has announced plans to prohibit foreign state ownership of newspapers and news magazines in ordered to maintain the integrity of the British press. According to reports, the decision comes while concerns increase over a proposed takeover bid of the Daily Telegraph and Spectator by a United Arab Emirates-backed investment firm, RedBird IMI. Key details According to the BBC, the government, through media minister Stephen Parkinson, unveiled its intention to amend legislation to enforce the ban on foreign state ownership of newspapers. This announcement, made in the House of Lords, signals a significant shift in policy to prevent undue external influence on British media outlets. Pressure had been mounting on the government to intervene amidst growing concerns over the proposed takeover bid by RedBird IMI, which holds a 75 per cent stake in the investment venture. The bid, backed by UAE Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan, raised serious apprehensions about potential foreign control over critical elements of the British press. Labour has expressed its support for the proposed legislative amendment, signalling cross-party consensus on the issue. The proposed ban, if enacted, would not apply to broadcasters, clarifies Lord Parkinson. This exclusion reflects a targeted approach to safeguarding the print media from foreign state influence while maintaining the autonomy of broadcasting channels, a BBC report said. Implications and reaction The announcement of the ban has dealt a significant blow to the RedBird IMI takeover bid, with industry insiders suggesting that the prospects of its success are diminishing rapidly. Key stakeholders, including Spectator chairman Andrew Neil, have welcomed the government's intervention, asserting that it represents a vital step in protecting the integrity of British journalism. The proposed amendment to the Digital Markets, Competition and Consumers Bill is expected to be met with widespread support in Parliament, reflecting a united front in defence of press freedom. Despite assurances from RedBird IMI that the bid was a purely commercial endeavour, concerns persist over the potential implications of foreign ownership on journalistic independence. (With inputs from AFP)

UK government moves to block foreign state ownership of British newspapers

Sheikh Mansour bin Zayen bin Sultan Al Nahyan, 53, or simply Sheikh Mansour is the brother of ruler of Abu Dhabi Sheikh Mohamed bin Zayed. Among Mansour’s many government and commercial roles, he is vice-president of Abu Dhabi, vice-president of the United Arab Emirates (UAE) and vice-chairman of Abu Dhabi’s strategic investment company, Mubadala.

Also read |&nbsp;<a href="https://www.wionews.com/middle-east/who-is-sheikh-mansour-heres-everything-you-need-to-about-uaes-newly-appointed-vice-president-577174">Who is Sheikh Mansour? Here's everything you need to know about UAE's new vice president, his net worth &amp; more</a>

Sheikh Mansour bought Manchester City in 2008. The club is now one of the world's most successful football clubs and a force to reckon with. The city has won Premier League seven times under his ownership.&nbsp;

<h2>Sheikh Mansour's bid to buy The Telegraph newspaper</h2>

Along with the US-based RedBird Capital, Mansour's International Media Investments (IMI) is bidding for the Daily and Sunday Telegraph newspaper titles and The Spectator magazine.

Also watch |&nbsp;Gravitas Plus: Why the Great Britain is not that great

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Mansour's IMI, according to the proposal, would be a "passive" partner. A spokesperson told The Times newspaper that the independence of the titles will remain "essential to protecting their reputation and credibility".

<h2>Which other newspapers Sheikh Mansour has ownership in?</h2>

The other papers owned by Sheikh Mansour's International Media Investments include The National, founded in Abu Dhabi in 2008.

Notably, The National's first editor Martin Newland was a former editor of The Daily Telegraph.

IMI also owned the al-Roeya newspaper which closed down in September last year.

<h2>The vast wealth owned by Sheikh Mansour</h2>

According to The Times, Mansour reportedly has a fortune of between £17 billion and £30 billion. But since he's linked to the state of UAE, the estimates are deemed unreliable.

He owns a vast palace in Abu Dhabi, a mansion in Spain and one of what is thought to be the world’s biggest superyachts, the 483ft A+ Yacht, formerly known as the Topaz.&nbsp;

In 2009 he spent £170 million on a 32 per cent stake in billionaire Richard Branson’s Virgin Galactic spaceship company.

UK Prime Minister Rishi Sunak is expected to meet Sultan Al Jaber, the chairman of IMI during COP28 climate change conference next week. The Downing Street is currently scrutinising the takeover bid.

Sheikh Mansour bin Zayen bin Sultan Al Nahyan, 53, or simply Sheikh Mansour is the brother of ruler of Abu Dhabi Sheikh Mohamed bin Zayed. Among Mansour’s many government and commercial roles, he is vice-president of Abu Dhabi, vice-president of the United Arab Emirates (UAE) and vice-chairman of Abu Dhabi’s strategic investment company, Mubadala.

Sheikh Mansour bin Zayen bin Sultan Al Nahyan, 53, or simply Sheikh Mansour is the brother of ruler of Abu Dhabi Sheikh Mohamed bin Zayed. Among Mansour’s many government and commercial roles, he is vice-president of Abu Dhabi, vice-president of the United Arab Emirates (UAE) and vice-chairman of Abu Dhabi’s strategic investment company, Mubadala. Also read | Who is Sheikh Mansour? Here's everything you need to know about UAE's new vice president, his net worth & more Sheikh Mansour bought Manchester City in 2008. The club is now one of the world's most successful football clubs and a force to reckon with. The city has won Premier League seven times under his ownership. Sheikh Mansour's bid to buy The Telegraph newspaper Along with the US-based RedBird Capital, Mansour's International Media Investments (IMI) is bidding for the Daily and Sunday Telegraph newspaper titles and The Spectator magazine. Also watch | Gravitas Plus: Why the Great Britain is not that great × Mansour's IMI, according to the proposal, would be a "passive" partner. A spokesperson told The Times newspaper that the independence of the titles will remain "essential to protecting their reputation and credibility". Which other newspapers Sheikh Mansour has ownership in? The other papers owned by Sheikh Mansour's International Media Investments include The National, founded in Abu Dhabi in 2008. Notably, The National's first editor Martin Newland was a former editor of The Daily Telegraph. IMI also owned the al-Roeya newspaper which closed down in September last year. The vast wealth owned by Sheikh Mansour According to The Times, Mansour reportedly has a fortune of between £17 billion and £30 billion. But since he's linked to the state of UAE, the estimates are deemed unreliable. He owns a vast palace in Abu Dhabi, a mansion in Spain and one of what is thought to be the world’s biggest superyachts, the 483ft A+ Yacht, formerly known as the Topaz. In 2009 he spent £170 million on a 32 per cent stake in billionaire Richard Branson’s Virgin Galactic spaceship company. UK Prime Minister Rishi Sunak is expected to meet Sultan Al Jaber, the chairman of IMI during COP28 climate change conference next week. The Downing Street is currently scrutinising the takeover bid.

Inside UAE's Sheikh Mansour's bid to buy The Telegraph newspaper

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UK government moves to block foreign state ownership of British newspapers

Inside UAE's Sheikh Mansour's bid to buy The Telegraph newspaper