Foreign governments will be blocked from owning UK newspapers and magazines, says Government amid concerns over proposed UAE-backed takeover of The Telegraph [Video]

14:35 EDT 13 Mar 2024 , updated 21:20 EDT 13 Mar 2024

Foreign governments will be blocked from owning UK newspapers and magazines amid concern over the proposed UAE-backed takeover of The Daily Telegraph.

In the face of cross-party pressure, the Government pledged on Wednesday night to table an amendment to legislation going through the House of Lords to block such deals.

It was prompted by concern over the bid by RedBird IMI, which is majority-owned by the United Arab Emirates’ International Media Investments, to buy the Telegraph Media Group.

The deal would also see the investment fund take control of The Spectator magazine.

Tory peer Baroness Stowell had proposed an amendment to the Digital Markets Bill to prevent takeovers by foreign states.

She said it was ‘inconceivable’ a foreign government should be able to own a UK …