UK to Allow Foreign States 15% Newspaper Ownership

The UK government announced on Thursday a significant shift in media ownership policy, stating it plans to allow foreign state-backed investors to own up to 15% of British newspaper publishing companies.

The decision forms part of broader media reform efforts aimed at clarifying long-standing uncertainty surrounding foreign involvement in outlets such as The Telegraph.

As part of the legislative changes, the government will also expand its oversight powers to review mergers involving not only traditional print outlets but also online news platforms and news magazines.

Culture Secretary Lisa Nandy said the reforms are designed to preserve media plurality while recognising the changing ways in which people access information.

Nandy emphasised that while the UK remains committed to protecting its news media from foreign state control, it also acknowledges the vital need for news organisations to access funding.

Ownership concerns surrounding The Telegraph, one of Britain's most prominent newspapers, have previously sparked debate about the influence of foreign governments on press independence.

The government confirmed that exemptions will allow certain sovereign wealth funds and public pension funds to acquire minority shares—up to 15%—while maintaining safeguards against excessive foreign influence.

The new policy reverses a previous ban imposed by the former Conservative government, which last year blocked foreign state ownership of UK newspapers.

That move had specifically prevented RedBird IMI, a media investment firm led by former CNN executive Jeff Zucker and largely funded by Abu Dhabi, from acquiring The Telegraph.

In 2023, RedBird IMI took control of The Telegraph and The Spectator after helping the Barclay family settle a £1.2 billion debt to Lloyds Bank. While The Spectator was sold to hedge fund founder Paul Marshall in September, The Telegraph remains unsold nearly a year later.

The newly proposed 15% ownership cap would enable Abu Dhabi to retain a minority stake in The Telegraph without violating UK media laws.