Source: UK will change law to ban foreign states from owning newspapers

Source: UK will change law to ban foreign states from owning newspapers
Source: UK will change law to ban foreign states from owning newspapers

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Nevin Al Sukari - Sana'a - Newspapers sit on a stand at a supermarket in London, Britain, March 11, 2024. — Reuters pic

LONDON, March 13 — Britain will change the law to ban foreign states from owning, influencing or controlling British newspapers, a person familiar with the plans said today, a move that could threaten the Abu-Dhabi-backed Redbird IMI bid for the Telegraph newspaper.

The government is expected to outline its own amendment at the start of a debate in parliament’s upper House of Lords later today that would give ministers the powers to block a deal, the person said.

The decision comes at a time when Britain is using a separate regulatory process to weigh up whether to allow Redbird IMI’s bid for the Telegraph.

The battle over one of Britain’s most famous newspapers has raised questions about the independence of the media and the role of foreign investors acquiring assets that could undermine press freedom.

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A spokesman for Prime Minister Rishi Sunak said the government would lay out its position in a debate later today. — Reuters

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