UK government plans to ban foreign governments from owning British media

Foreign governments will be banned from owning British newspapers.

The UK government has announced plans to ban foreign governments from owning newspapers and magazines in the UK. The move reportedly comes amid controversy over a proposed takeover of the Telegraph and Observer by United Arab Emirates-backed company RedBird IMI. British Broadcasting Corporation.

The new legislation is an amendment to the Digital Markets Act currently before Parliament and aims to safeguard press freedom. Critics of the Telegraph deal have raised concerns about the influence of foreign governments on British media.

The injunction will effectively block RedBird IMI’s current takeover bid, forcing them to restructure their ownership if they wish to proceed. Under the proposed laws, foreign individuals and private companies would still be allowed to own British publications.

according to British Broadcasting CorporationA spokesman for the UAE-backed group said they were “extremely disappointed by today’s developments”.

Announcing the ban, Culture Secretary Lord Parkinson of Whitley Bay said: “We will clearly amend the media merger regime to exclude mergers of newspapers, periodicals and news magazines that involve foreign ownership, influence or control.”

He added: “Under the new measures, the Secretary of State is obliged to refer media merger cases to the Competition and Markets Authority (CMA) through a new foreign interference notification.”

A spokesperson for RedBird IMI said they “remain committed” to investing in global media, adding: “We will now assess our next steps and commercial interests remain the only priority.”