UK government says it will back legislation to ban foreign state ownership of British newspapers
9 months, 1 week ago

UK government says it will back legislation to ban foreign state ownership of British newspapers

Associated Press  

LONDON — The U.K. government said Wednesday it will back legislation banning foreign state ownership of British newspapers and magazines, a move that could upend a planned takeover by a United Arab Emirates-led consortium of the Telegraph Media Group. “What freedom of the press means is freedom from government.” The legislation stems from concern about the proposed takeover of the right-leaning and publications by RedBird IMI, which is backed by U.S. financial firm RedBird Capital Partners and Sheikh Mansour bin Zayed Al Nahyan, a member of Abu Dhabi’s royal family, who is also the UAE’s vice president. “If governments start to own newspapers, whether they’re British governments, European governments or an Arab government, you end up with press freedom compromised fatally,” he told Sky News. “In journalism, one of the maxims is follow the money and if that money leads to the Abu Dhabi government, then you’ve got a pretty big problem when it comes to press freedom,” Nelson added.

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History of this topic

Abu Dhabi-backed fund pulls out of deal to take over UK’s Telegraph newspaper group
7 months, 3 weeks ago

Abu Dhabi-backed fund pulls out of deal to take over UK’s Telegraph newspaper group

Associated Press  

LONDON — Britain’s Telegraph newspaper group is back up for sale Tuesday after a United Arab Emirates-backed consortium pulled out of a takeover bid following strong opposition from the U.K. government. Abu Dhabi-backed investment fund RedBird IMI said it was withdrawing from the proposed acquisition of the Telegraph Media Group, which owns the right-leaning Daily Telegraph and Sunday Telegraph newspapers …

Farrukh Dhondy | Getting the news from TikTok and social media: Will bid to ban work?
8 months, 3 weeks ago

Farrukh Dhondy | Getting the news from TikTok and social media: Will bid to ban work?

Deccan Chronicle  

“Dogs in our alley Are treated like kings by all No thief dare come near The cats who live here Don’t bother the rats or mice Truce has been declared The blind man who sits All day under the neem tree Singing the same song” From Kaiku Haiku, by Bachchoo For many decades of my short and happy life, gentle …

UAE-backed Telegraph takeover potentially against public interest, Ofcom warns Culture Secretary
9 months ago

UAE-backed Telegraph takeover potentially against public interest, Ofcom warns Culture Secretary

The Telegraph  

A UAE-backed takeover of the Telegraph would potentially be against the public interest, the media regulator Ofcom has warned the Culture Secretary. “In particular, they consider that International Media Investments, a majority partner in RB Investco’s parent company, may have the incentive to influence TMG in a way that could potentially act against the public interest in the UK by …

U.K. govt. says it will back legislation to ban foreign state ownership of British newspapers
9 months, 1 week ago

U.K. govt. says it will back legislation to ban foreign state ownership of British newspapers

The Hindu  

The United Kingdom government said on Wednesday, March 13, 2024, it will back legislation banning foreign state ownership of British newspapers and magazines, a move that could upend a planned takeover by a United Arab Emirates-led consortium of the Telegraph Media Group. “What freedom of the press means is freedom from government.” The legislation stems from concern about the proposed …

UK set to ban foreign governments from owning British newspapers
9 months, 1 week ago

UK set to ban foreign governments from owning British newspapers

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Ban on foreign state ownership of UK newspapers effectively halts UAE takeover of Telegraph
9 months, 1 week ago

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

The Telegraph  

Foreign state control of British newspapers is to be outlawed, effectively blocking the UAE’s attempted takeover of The Telegraph. The amendment is yet to be published and it remains unclear what percentage of foreign state ownership would amount to “influence” under the proposed change. Lord Parkinson said the amount of overall ownership by a foreign state entity, such as a …

UAE taking over Telegraph for influence not investment, says peer
9 months, 3 weeks ago

UAE taking over Telegraph for influence not investment, says peer

The Telegraph  

Addressing the takeover, he said: “That doesn’t strike me as an investment opportunity; that strikes me as being an influence opportunity. And that is what is behind, I believe, the acquisition of the Daily Telegraph, and that is why a substantial premium is being offered.” The peer noted the UAE’s “dreadful record on censorship and editorial influence”, its “threats to …

UAE takeover of Telegraph would not be the last foreign media acquisition, warns Fraser Nelson
10 months, 1 week ago

UAE takeover of Telegraph would not be the last foreign media acquisition, warns Fraser Nelson

The Telegraph  

The Abu Dhabi-backed takeover of The Telegraph and The Spectator would open the floodgates for “rich autocracies” to acquire British media outlets, Fraser Nelson has warned. The editor of The Spectator magazine told peers on Tuesday that the Government should step in and outlaw the sale of newspapers to overseas states before it is “too late”. Mr Nelson, who is …

UK government intervenes in potential takeover of Telegraph newspaper by Abu Dhabi-backed fund
1 year ago

UK government intervenes in potential takeover of Telegraph newspaper by Abu Dhabi-backed fund

Associated Press  

LONDON — Britain’s government said Thursday it has asked media and market competition officials to investigate whether a potential Abu Dhabi-backed takeover of The Telegraph newspaper would impact press freedoms. Culture Secretary Lucy Frazer said she issued a “public interest intervention notice” after considering the possible impact of the offer by the investment fund RedBird IMI to the previous owners …

Loans pave way for Abu Dhabi-backed fund to take over UK’s Telegraph newspaper
1 year, 1 month ago

Loans pave way for Abu Dhabi-backed fund to take over UK’s Telegraph newspaper

Associated Press  

LONDON — An Abu Dhabi-backed investment fund said Monday it has paved the way to take ownership of Britain’s Telegraph newspaper and The Spectator magazine after striking a deal with the publications’ previous owners to repay debts owed by them. RedBird IMI — a joint venture between RedBird Capital and Abu Dhabi’s International Media Investments, and led by former CNN …

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