Britain to Change Law to Ban Foreign Ownership of Newspapers

A knowledgeable source reported today, Wednesday, that "Britain will change the law to prohibit foreign countries from owning, influencing, or controlling British newspapers, a move that threatens the bid by Abu Dhabi-backed Reed Bird 'IMI' Group to acquire The Telegraph." The source added that "the government is expected to outline details of its amendment at the beginning of a discussion in the House of Lords later today, an amendment that will grant ministers the authority to block agreements." This decision comes as Britain is undergoing a separate regulatory process to assess whether it will allow the Reed Bird Group to acquire The Telegraph. The battle over one of Britain's most famous newspapers has raised questions about media independence and the role of foreign investors acquiring assets that could undermine press freedom. A spokesperson for British Prime Minister Rishi Sunak stated that the government will clarify its position during the discussion later today.