News Corp and Daily Mail Owner Eye Telegraph Takeover Amid Regulatory Scrutiny
The proposed acquisition faces hurdles over concerns of foreign interference and market competition, prompting a government intervention.
- Rupert Murdoch's News Corp and the Daily Mail's owner DMGT are in talks for a joint takeover of The Telegraph with UAE-backed RedBird IMI.
- The deal faces opposition due to concerns over foreign state interference and market competition.
- Culture Secretary Lucy Frazer has issued a Public Interest Intervention Notice, halting the merger until further investigation by Ofcom and the CMA.
- Over 100 MPs have called for the government to block the takeover, citing concerns over press freedom.
- The deal's structure may be restructured to reduce UAE influence, amidst considerations for tougher laws on foreign ownership of UK newspapers.