Mind the Gulf: Telegraph takeover bid leads to UK ban on foreign state media ownership
Back to homepage / Shows / Scoop Issued on: 22/03/2024 – 16:51Modified: 22/03/2024 – 16:53 11:38 SCOOP © FRANCE 24 The newspaper industry may be in duress, but a legacy brand like The Daily Telegraph in the UK is still an attractive asset that wields considerable influence. Former CNN president Jeff Zucker led a consortium […]
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The newspaper industry may be in duress, but a legacy brand like The Daily Telegraph in the UK is still an attractive asset that wields considerable influence. Former CNN president Jeff Zucker led a consortium to buy the paper that was primarily backed by money out of the United Arab Emirates. The joint venture had an ambitious vision, with hopes of expanding The Telegraph in the United States. But they never left the starting block. After weeks and months of growing pressure from British Conservative MPs, the government ordered a lengthy review of the takeover. However, before that process finishes, an amended law will come into force that bars foreign state ownership of a British newspaper.
The saga has raised questions about press freedom, the free market, soft power and – if the deal is dead – who might sweep in to buy the 168-year-old broadsheet. For more, we speak to Daniel Thomas from the Financial Times and Simon Nixon, former leader writer at The Times.
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