After an attempt by Redbird IMI, owned by Emirati Vice President Sheikh Mansour, to acquire The Telegraph newspaper and The Spectator magazine, the UK has decided to ban foreign entities from owning newspapers and magazines.
The United Kingdom said on Wednesday that foreign governments would not be allowed to acquire newspapers or magazines within the nation. This move sparked a global discussion about foreign influence on traditional media as well as social media sites like TikTok.
The decision was made in response to worries about a company connected to the United Arab Emirates and supported by Emirati Vice President Sheikh Mansour attempting to acquire The Telegraph newspaper and The Spectator magazine.
Members of the ruling Conservative Party had expressed concern that the agreement might compromise editorial independence because of their close ties to the right-leaning publications The Telegraph and The Spectator.
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Although broadcast media would not be covered by the rule, according to Culture Minister Lord Stephen Parkinson, it would particularly target “foreign state ownership,” which would prevent foreign corporations like Rupert Murdoch’s News Corp from running newspapers in the United Kingdom.
The Emirati company Redbird IMI, which is attempting to purchase The Telegraph and The Spectator, expressed its disappointment at the decision, saying that it was only motivated by the conviction that the British media industry was “worthy of further investment.”
“As with each of our deals, we have been clear that the acquisition of The Telegraph and The Spectator has been a fully commercial undertaking,” Redbird said.
More countries throughout the world are thinking about outlawing foreign companies that run media activities inside their borders. In the United States, a measure has been suggested that would compel TikTok to split from its parent company, ByteDance, in China.
One Response
Hilarious tripe!
This idiocy, when ISRAEL owns every newspaper and magazine in the U.K.?????
Isn’t ISRAEL a foreign country!?
APRIL 8, 2024!
TIME TO TAKE BACK OUR PLANET!