Posted by Richard Willett - Memes and headline comments by David Icke Posted on 14 March 2024

Foreign State Ownership of U.K. Newspapers to be Banned

Foreign state control of British news organisations is to be outlawed, in a move by Rishi Sunak to block the attempted UAE-takeover of the Telegraph. The Telegraph has more.

Ministers are expected to reveal an amendment to the Digital Markets Bill on Wednesday afternoon to rule out U.K. newspaper and periodical news magazine mergers involving ownership, influence or control by foreign states.

The bid by RedBird IMI, a fund 75% backed by Sheikh Mansour bin Zayed Al Nahyan, the UAE Vice President, would not be allowed by law.

However, deals where foreign state funding represented a minority interest not considered to create influence or control could be allowed.

It leaves the door ajar to a restructured bid by RedBird IMI with new non-state partners to reduce the UAE stake.

The wording of the new law is not expected to be published on Wednesday, however, meaning an element of uncertainty remains about exactly which future potential mergers would be affected.

But under the description set to be outlined by Lord Parkinson, the culture minister, it appears that takeovers where the majority owner is a foreign Government would be blocked by law.

Under other legislation the threshold for a stake to be considered controlling is 25%.

Read More:

From our advertisers