UK to Ban Foreign Governments from Owning Local Press

The UK government says foreign governments will be banned from owning UK newspapers and news magazines in the country.

It follows criticism of a proposed takeover of the Daily Telegraph and Spectator by a United Arab Emirates-backed investment firm, RedBird IMI.

The government said the proposed legislation would “deliver additional protections for a free press”.

A spokesperson for the UAE-funded group said they were “extremely disappointed by today’s development”.

Labour has indicated it will back the change, which will be in an amendment to a new law being debated next week.

There had been growing cross-party pressure on the government to act and it was facing a possible defeat in the House of Lords on Wednesday from peers who wanted to see urgent action.

Announcing the ban, Lord Parkinson of Whitley Bay said the new law would “rule out newspaper and periodical news magazine mergers involving ownership, influence or control by foreign states”.