UK government says it will back legislation to ban foreign state ownership of British newspapers

📆 3/14/2024 11:23 AM
📰 AP

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The U.K. government says it will back legislation banning foreign state ownership of British newspapers and magazines, a move that could upend a planned takeover by a United Arab Emirates consortium of the Telegraph Media Group. The development comes after numerous lawmakers from across the political divide urged for an explicit ban.

FILE - British national newspapers are seen for sale at a newspapers vendor in Wimbledon, south London, Saturday, Dec. 10, 2011. The U.K. government said Wednesday, March 13, 2024, it will back legislation banning foreign state ownership of British newspapers and magazines, a move that could upend a planned takeover by a United Arab Emirates-led consortium of the Telegraph Media Group. LONDON — The U.K.

The bill, which is expected to pass easily, will prevent the takeover of British publications by foreign governments. However, foreign individuals and firms will continue to be able to own papers and magazines. . His wealth has transformed the fortunes of City, taking the club from an also-ran in the English Premier League to a dominant force.

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