LONDON: Britain plans to allow foreign state-owned investors to own up to 15 percent of British newspaper publishers, the government said on Thursday, as part of media reforms that could end long-running uncertainty over ownership of the Telegraph newspaper.
The government will also expand its powers to scrutinize media mergers to include news websites and news magazines.
“These important, modernizing reforms are about protecting media plurality and reflect the changing ways in which people are consuming news,” Culture Secretary Lisa Nandy said.
“We are fully upholding the need to safeguard our news media from foreign state control whilst recognizing that news organizations must be able to raise vital funding.”
The ownership of the Telegraph, one of Britain’s best known newspapers, has raised questions about the independence of the media and foreign states buying political influence.
The government said “targeted exceptions” allowing certain sovereign wealth funds or pension funds to invest up to 15 percent in British newspaper and periodicals would help sustain the titles while also limiting any foreign influence in media.
The government does not plan to exempt debt financing, but warned that if a foreign power gains control through a default, it could trigger a ministerial intervention under existing rules.
Britain’s previous Conservative government last year banned foreign state investment in British newspapers, blocking RedBird IMI, run by former CNN boss Jeff Zucker and with the majority of its funding from Abu Dhabi, from owning the Telegraph.
Abu Dhabi-backed RedBird IMI took control of the Telegraph titles and the Spectator magazine in 2023 when it helped repay the Barclay family’s 1.2 billion pound ($1.6 billion) debt to Lloyds Bank.
It put the titles up for sale nearly a year ago. The Spectator was sold to hedge fund founder Paul Marshall in September, but the Telegraph has not found a buyer.
The 15 percent cap would allow Abu Dhabi to retain some ownership of the paper.
UK to allow foreign states to own a 15 percent stake in newspapers
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UK to allow foreign states to own a 15 percent stake in newspapers
- Proposed media reforms could resolve the long-standing uncertainty surrounding the ownership of the Telegraph newspaper
- In 2023, Abu Dhabi-backed RedBird IMI assumed control of the Telegraph titles and The Spectator by helping repay the Barclay family’s £1.2 billion debt
Foreign press group welcomes Israel court deadline on Gaza access
- Supreme Court set deadline for responding to petition filed by the Foreign Press Association to Jan. 4
- Since the start of the Gaza war in October 2023, Israeli authorities have prevented foreign journalists from independently entering the Strip
JERUSALEM: The Foreign Press Association in Jerusalem on Sunday welcomed the Israeli Supreme Court’s decision to set January 4 as the deadline for Israel to respond to its petition seeking media access to Gaza.
Since the start of the Gaza war in October 2023, sparked by Palestinian militant group Hamas’s attack on Israel, Israeli authorities have prevented foreign journalists from independently entering the devastated territory.
Israel has instead allowed, on a case-by-case basis, a handful of reporters to accompany its troops into the blockaded Palestinian territory.
The Foreign Press Association (FPA), which represents hundreds of foreign journalists in Israel and the Palestinian territories, filed a petition to the supreme court last year, seeking immediate access for international journalists to the Gaza Strip.
On October 23, the court held a first hearing on the case, and decided to give Israeli authorities one month to develop a plan for granting access.
Since then the court has given several extensions to the Israeli authorities to come up with their plan, but on Saturday it set January 4 as a final deadline.
“If the respondents (Israeli authorities) do not inform us of their position by that date, a decision on the request for a conditional order will be made on the basis of the material in the case file,” the court said.
The FPA welcomed the court’s latest directive.
“After two years of the state’s delay tactics, we are pleased that the court’s patience has finally run out,” the association said in a statement.
“We renew our call for the state of Israel to immediately grant journalists free and unfettered access to the Gaza Strip.
“And should the government continue to obstruct press freedoms, we hope that the supreme court will recognize and uphold those freedoms,” it added.
An AFP journalist sits on the board of the FPA.
