UK To Forbid Foreign Control of Media, Block UAE Imminent Purchase of Conservative Paper Telegraph
There’s nothing unprecedented about foreign billionaires – in many cases from Arabian kingdoms such as Qatar, the United Arab Emirates and Saudi Arabia – to own relevant and historical real estate, as well as university facilities, think tanks and even beloved sports teams.
But apparently, newspapers are a no-go.
An investment coming from the UAE has thrown British politicians, media and even intelligence officials into a frenzy.
The UK government has revealed its plans to stop foreign states from owning newspapers. This will potentially give ministers the power to block Abu Dhabi-backed RedBird IMI’s bid to buy the traditional British paper Telegraph.
Reuters reported:
“The battle over one of Britain’s most famous newspapers has raised questions about the independence of the media and the role of foreign investors acquiring ownership of politically influential assets.”
The Telegraph has long supported Britain’s governing Conservative Party.
