British government supports bill that would prohibit foreign states from acquiring newspapers

2024-03-13 22:52:02

LONDON (AP) — The U.K. government said Wednesday it will back a bill to ban foreign states from owning British newspapers and magazines, a move that might scupper a consortium’s takeover of Telegraph Media Group. led by the United Arab Emirates.

The announcement came following numerous lawmakers across the political spectrum called for an explicit ban rather than using a regulatory approach to ensure that publications do not simply repeat the views of state actors.

Stephen Parkinson, the minister in charge of media, said the government will introduce an amendment to the “Digital Markets, Competition and Consumer Bill” currently making its way through parliament.

The bill, which is expected to pass easily, will prevent the acquisition of British publications by foreign governments. However, individuals of foreign origin will continue to have the possibility of purchasing newspapers and magazines.

“Freedom of the press is essential for a functioning democracy,” Parkinson said. “What freedom of the press means is freedom from the government.”

The bill arises from concerns over the proposed acquisition of the Telegraph Media Group newspaper and publications by RedBird IMI, backed by financial firm RedBird Capital Partners and Sheikh Mansour bin Zayed Al Nahyan, a member of the royal family of Abu Dhabi, who is also vice president of the United Arab Emirates.

Sheikh Mansour has been a major figure in the UK since his takeover of the Manchester City football team. His wealth has transformed the fortunes of the team, which went from being just another participant in the English Premier League to becoming a dominant force in it.

The proposed acquisition of the Telegraph Media Group, which comprises The Daily Telegraph and The Sunday Telegraph as well as The Spectator magazine, has also been subject to a separate investigation, ordered by Culture Secretary Lucy Frazer, due to its potential impact on Press freedom. The Telegraph group newspapers are closely allied with the Conservative Party.

Fraser Nelson, editor of The Spectator, has opposed the takeover and welcomed the government’s decision to introduce the ban.

“If governments start owning newspapers, whether British, European, or Arab governments, we will end up with press freedom fatally compromised,” he told Sky News.

“In journalism, one of the maxims is to follow the money, and if that money leads to the government in Abu Dhabi, then we have a pretty serious problem with press freedom,” Nelson added.

In a statement, RedBird IMI, which has made six investments in the United States and the United Kingdom, said the company was “extremely disappointed” by the British government’s decision, because it believed that the media industry in the United Kingdom deserved more investments.

“As with each of our deals, we have made it clear that the acquisition of The Telegraph and The Spectator has been an entirely commercial commitment,” he said. “Now, we will evaluate our next steps, where commercial interests will remain the only priority.”

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