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

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The U.Ok. government stated Wednesday it will back legislation banning foreign state ownership of British newspapers and magazines, a transfer that might upend a deliberate takeover by a United Arab Emirates-led consortium of the Telegraph Media Group.

The improvement comes after quite a few lawmakers from throughout the political divide urged an express ban, slightly than utilizing a regulatory strategy to make sure that publications do not parrot views of state actors.

The minister in cost of media, Stephen Parkinson, stated the government will introduce an modification to the “Digital Markets, Competition and Consumers Bill” presently making its means by Parliament.

The invoice, which is anticipated to move simply, will forestall the takeover of British publications by foreign governments. However, foreign people and companies will proceed to have the ability to personal papers and magazines.

“Freedom of the press is prime to a functioning democracy,” said Parkinson. “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.

Sheikh Mansour has been a prominent figure in Britain since his 2008 takeover of soccer club Manchester City. His wealth has transformed the fortunes of City, taking the club from an also-ran in the English Premier League to a dominant force.

The proposed takeover of the Telegraph Media Group — The Daily Telegraph, The Sunday Telegraph as well as The Spectator magazine — has also been subject to a separate investigation, ordered by the Culture Secretary Lucy Frazer, due to its possible impact on press freedom. The Telegraph papers are closely allied to the governing Conservative Party.

The takeover has been opposed by Spectator’s editor Fraser Nelson, who welcomed the government’s decision to introduce the ban.

“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.

In a statement, RedBird IMI, which has made six investments in the U.S. and the U.K., said the company was “extremely disappointed” by the government’s resolution as it believed the U.Ok.’s media trade was worthy of extra funding.

“As with every of our offers, we’ve got been clear that the acquisition of The Telegraph and The Spectator has been a totally industrial endeavor,” it said. “We will now consider our subsequent steps, with industrial pursuits persevering with to be the only real precedence.”