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UK Sets 15% Cap on Foreign State Ownership of Newspapers

The new threshold, introduced by Culture Secretary Lisa Nandy, seeks to balance press independence with funding needs, ending two years of uncertainty over The Telegraph's ownership.

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Lisa Nandy, the culture secretary: “We are fully upholding the need to safeguard our news media from foreign state control”
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Overview

  • The UK government will allow foreign state investors to hold up to 15% stakes in British newspapers, a shift from the previous outright ban on such ownership.
  • The reform is being implemented through a statutory instrument, which may face debate and a vote in the House of Lords under the affirmative procedure.
  • The 15% cap follows extensive lobbying by media industry leaders who argued that sovereign funding is crucial for the financial sustainability of newspapers.
  • RedBird IMI, an Abu Dhabi-backed consortium, is now expected to seek a 15% stake in The Telegraph, while RedBird Capital prepares a bid for majority ownership.
  • The policy also updates media merger rules, granting the government powers to review takeovers involving broadcasters, news websites, and current affairs magazines.