The UK Government Bans Foreign Ownership of UK Newspapers and Magazines
By Brian Wheeler – Political reporter
Published: 13 March 2024, 17:56 GMT
Updated: 1 hour ago
In a groundbreaking move, the UK government has announced a ban on foreign governments owning UK newspapers and news magazines. This decision comes in response to growing concerns over the potential takeover of British publications, such as the Daily Telegraph and Spectator, by a group funded by the United Arab Emirates.
The ban, which will be introduced as an amendment to a new law being debated next week, has received strong support from the Labour party. The government stated that this legislation aims to provide additional protections for a free press and prevent undue influence from foreign entities.
Lord Parkinson of Whitley Bay, the government official behind the ban, emphasized that the new law will prohibit any mergers involving ownership, influence, or control by foreign states in newspapers and periodical news magazines. This measure will be included in the Digital Markets, Competition, and Consumers Bill, which is set for its third reading next week.
Notably, the ban will not apply to broadcasters, as confirmed by Lord Parkinson. The move comes amidst a contentious bid by investment fund RedBird IMI to acquire the Daily and Sunday Telegraph titles and the Spectator magazine, led by Sheikh Mansour, deputy prime minister and vice president of the UAE.
The proposed takeover has faced significant political opposition, with other bidders including prominent figures in the media industry like Sir Paul Marshall, DMGT, and Rupert Murdoch. Andrew Neil, chairman of the Spectator, welcomed the government intervention, stating that the UAE bid now appears unlikely to succeed.
Baroness Stowell, a former Conservative cabinet minister, has led bipartisan efforts to prevent foreign powers from acquiring UK news media organizations. She emphasized the importance of safeguarding public trust in news and democracy, highlighting the potential damage foreign ownership could cause.
The government’s decision is expected to bring clarity and transparency to future media takeovers, with plans to involve the Competition and Markets Authority in assessing proposed mergers for any foreign state influence. Lord Parkinson outlined the process for blocking or unwinding mergers that pose a risk of foreign ownership or control over British newspapers.
This ban marks a significant step towards preserving the independence and integrity of the UK press, reflecting a concerted effort to protect national interests in the face of foreign influence.
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