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The Telegraph

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media1 year ago•2 min saved

"UK Bans Foreign State Ownership of Newspapers, Thwarting Telegraph Takeover"

The U.K. government has moved to block foreign state ownership of newspapers and newsmagazines, dealing a blow to former CNN chief Jeff Zucker's bid for The Telegraph and The Spectator Magazine, which relied heavily on financing from Emirati backers. The proposed legislation aims to prevent foreign influence in the British media, particularly concerning the Conservative Party's interests. RedBird IMI, Zucker's media venture company, may attempt to salvage the bid by finding new investors and reducing the Emiratis' majority stake to comply with the government's rules.

via The New York Times|

#foreign-ownership #jeff-zucker #media

business2 years ago•4 min saved

U.K. Government Investigates Abu Dhabi-Backed Bid for The Telegraph

The British government has announced a review of Jeff Zucker's bid to acquire The Daily Telegraph and The Spectator, two influential publications in British conservative politics. The bid, backed mostly by funds from the United Arab Emirates, has faced criticism from Tories who fear undue foreign influence over The Telegraph's coverage. The review could delay the deal and allow rival bidders, including Rupert Murdoch and Lord Rothermere, to build opposition. Zucker has pledged to preserve editorial independence and insists that his Emirati financial partner would have no say in editorial matters. The review is expected to conclude by late January.

via The New York Times|

#british-press #business #emirati-backed-bid