‘Regulation not legislation’: Nadhim Zahawi slams UK for blocking Telegraph sale
Former MP, channeling late PM Margaret Thatcher, insists ‘UK should always be open for business’
Zahawi’s comments part of exclusive Arab News interview to be broadcast this weekend
Updated 21 September 2024
Arab News
LONDON: Former Chancellor of the Exchequer and Conservative MP Nadhim Zahawi has criticized the UK government for blocking the sale of The Daily Telegraph and The Spectator to a UAE-led media company earlier this year, calling the decision “a terrible error of judgment.”
Speaking in an exclusive interview with Arab News for the season premiere of “Frankly Speaking,” Zahawi expressed disappointment at the decision.
“If Margaret Thatcher (had a say, she) would have said the UK should always be open for business.
“The way you protect particular sectors of the economy, if they require protection, whether it’s nuclear or media, it’s through regulation — good regulation — not legislation.”
The sale of the titles was halted due to government concerns over foreign ownership in critical sectors like the media.
Zahawi, who served as chair of the Conservative Party until January 2023, said he disagreed with colleagues who opposed the sale, especially given the growing economic ties between the UK and the UAE.
He said RedBird IMI, a joint venture between Abu Dhabi’s International Media Investments and US-based RedBird Capital led by former President of CNN Commercial Worldwide Rani Raad, deserved credit for securing what he called an “incredible sale” of The Spectator for £100 million ($133 million) to Sir Paul Marshall, a hedge fund tycoon and major investor in GB News.
Zahawi, who founded and served as CEO of market research firm YouGov, declined to comment on the ongoing discussions regarding the sale of The Telegraph and dismissed those who questioned his own possible involvement in a takeover.
“I won’t comment on a live commercial process,” he said. “Suffice to say that it would be an honor and a privilege to lead a great newspaper like The Daily Telegraph.”
RedBird IMI, which owns The National, Sky News Arabia and holds stakes in Euronews and other media companies, took control of The Telegraph and The Spectator in December 2022 after repaying a £600 million debt owed by the Barclay family to Lloyds Bank.
However, UK legislation passed in April aimed at curbing foreign state ownership of newspapers prevented the group from assuming full control.
In September, reports surfaced that Zahawi, who acted as a mediator between RedBird IMI and potential buyers, had allegedly approached former Conservative Party treasurer Sir Mohamed Mansour, an Egyptian-born businessman, to help finance his own bid for the broadsheet.
He was also reported to have held talks with the Reuben family, property billionaires with a stake in Newcastle United Football Club.
In the interview, Zahawi also reflected on his personal journey from Baghdad to the UK, sharing experiences of financial hardship, racism and political awakening during his time at university. He discussed his new book, “The Boy from Baghdad,” his views on the Labour Party, the recent riots in the UK and the country’s immigration policies.
The full “Frankly Speaking” interview will be available on Sunday on Arab News’ website and social media platforms.
A look back at how Arab News marked its 50th anniversary
In a year crowded with news, the paper still managed to innovate and leverage AI to become available in 50 languages
Golden Jubilee Gala, held at the Diplomatic Quarter in Riyadh, now available to watch on YouTube
Updated 31 December 2025
Arab News
RIYADH: In 2025, the global news agenda was crowded with headlines concerning wars, elections and rapid technological change.
Inside the newsroom of Arab News, the year carried additional weight: Saudi Arabia’s first English-language daily marked its 50th anniversary.
And with an industry going through turmoil worldwide, the challenge inside the newsroom was how to turn a midlife crisis into a midlife opportunity.
For the newspaper’s team members, the milestone was less about nostalgia than about ensuring the publication could thrive in a rapidly changing and evolving media landscape.
“We did not want just to celebrate our past,” said Faisal J. Abbas, editor-in-chief of Arab News. “But more importantly, we were constantly thinking of how we can keep Arab News relevant for the next five decades.”
Faisal J. Abbas, editor-in-chief of Arab News. (Supplied)
The solution, he added, came down to two words: “Artificial intelligence.”
For the Arab News newsroom, AI was not a replacement for journalism but as a tool to extend it.
“It was like having three eyes at once: one on the past, one on the present, and one on the future,” said Noor Nugali, the newspaper’s deputy editor-in-chief.
Noor Nugali, deputy editor-in-chief of Arab News. (Supplied)
One of the first initiatives was the 50th anniversary commemorative edition, designed as a compact historical record of the region told through Arab News’ own reporting.
“It was meant to be like a mini history book, telling the history of the region using Arab News’ archive with a story from each year,” said Siraj Wahab, acting executive editor of the newspaper.
The issue, he added, traced events ranging from the outbreak of the Lebanese civil war in 1975 to the swearing-in of Donald Trump, while also paying homage to former editors-in-chief who shaped the newspaper’s direction over five decades.
The anniversary edition, however, was only one part of a broader strategy to signal Arab News’ focus on the future.
To that end, the paper partnered with Google to launch the region’s first AI-produced podcast using NotebookLM, an experimental tool that synthesizes reporting and archival material into audio storytelling.
The project marked a regional first in newsroom-led AI audio production.
The podcast was unveiled during a special 50th anniversary ceremony in mid-November, held on the sidelines of the Arab Media Forum, hosted by the Dubai Future Foundation. The event in the UAE’s commercial hub drew regional media leaders and officials.
Remarks at the event highlighted the project as an example of innovation in legacy media, positioning Arab News as a case study in digital reinvention rather than preservation alone.
“This is a great initiative, and I’m happy that it came from Arab News as a leading media platform, and I hope to see more such initiatives in the Arab world especially,” said Mona Al-Marri, director-general of the Government of Dubai Media Office, on the sidelines of the event.
“AI is the future, and no one should deny this. It will take over so many sectors. We have to be ready for it and be part of it and be ahead of anyone else in this interesting field.”
Behind the scenes, another long-form project was taking shape: a documentary chronicling Arab News’ origins and its transformation into a global, digital-first newsroom.
“While all this was happening, we were also working in-house on a documentary telling the origin story of Arab News and how it transformed under the current editor into a more global, more digital operation,” said Nugali.
The result was “Rewriting Arab News,” a documentary examining the paper’s digital transformation and its navigation of Saudi Arabia’s reforms between 2016 and 2018. The film charted editorial shifts, newsroom restructuring and the challenges of reporting during a period of rapid national change.
The documentary was screened at the Frontline Club in London, the European Union Embassy, Westminster University, and the World Media Congress in Bahrain. It later became available on the streaming platform Shahid and onboard Saudi Arabian Airlines.
The grand slam of the anniversary year was the Golden Jubilee of Arab News gala, held in late September in Riyadh’s Diplomatic Quarter. (AN photo)
It was also nominated for an Association for International Broadcasting award.
In early July, a special screening of the documentary took place at the EU Embassy in Riyadh. During the event, EU Ambassador to Saudi Arabia Christophe Farnaud described the film as an “embodiment” of the “incredible changes” that the Kingdom is undergoing.
“I particularly appreciate … the historical dimension, when (Arab News) was created in 1975 — that was also a project corresponding to the new role of the Kingdom,” Farnaud said. “Now the Kingdom has entered a new phase, a spectacular phase of transformation.”
Part of the documentary is narrated by Prince Turki Al-Faisal, the former Saudi ambassador to the US, who in the film delves into the paper’s origins.
Prince Turki Al-Faisal, the former Saudi ambassador to the US. (AN photo)
The grand slam of the anniversary year was the Golden Jubilee of Arab News gala, held in late September in Riyadh’s Diplomatic Quarter.
Hosted by the Dean of Diplomatic Corps in Saudi Arabia and Ambassador of Djibouti to Riyadh Dya-Eddine Said Bamakhrama, the evening featured a keynote address by Prince Turki, who spoke about Arab News’ founding under his father, the late King Faisal, and its original mission to present the Kingdom to the English-speaking world.
The Dean of Diplomatic Corps in Saudi Arabia and Ambassador of Djibouti to Riyadh Dya-Eddine Said Bamakhrama (far left). (AN photo)
Arab News was established in Jeddah in 1975 by brothers Hisham and Mohammed Ali Hafiz under the slogan to give Arabs a voice in English while documenting the major transformations taking place across the Middle East.
The two founders were honored with a special trophy presented by Prince Turki, Assistant Media Minister Abdullah Maghlouth, Editor-in-Chief Abbas, and family member and renowned columnist Talat Hafiz on behalf of the founders.
During the gala, Abbas announced Arab News’ most ambitious expansion yet: the launch of the publication in 50 languages, unveiled later at the World Media Congress in Madrid in cooperation with Camb.AI.
The grand slam of the anniversary year was the Golden Jubilee of Arab News gala, held in late September in Riyadh’s Diplomatic Quarter. (AN photo)
The Madrid launch in October underscored Arab News’ aim to reposition itself not simply as a regional paper, but as a global platform for Saudi and Middle Eastern perspectives.
The event was attended by Princess Haifa bint Abdulaziz Al-Mogrin, the Saudi ambassador to Spain; Arab and Spanish diplomats; and senior editors and executives.
As the anniversary year concluded, Arab News released the full video of the Golden Jubilee Gala to the public for the first time, making the event accessible beyond the room in which it was held.
For a newspaper founded in an era of typewriters and wire copy, the message of its 50th year was clear: longevity alone is not enough. Relevance, the newsroom concluded, now depends on how well journalism adapts without losing sight of its past.
