Britain will change the law to ban foreign states from owning, influencing, or controlling British newspapers, a person familiar with the plans said on Wednesday, a move that could threaten the Abu-Dhabi-backed Redbird IMI bid for the Telegraph newspaper.
The government is expected to outline its own amendment at the start of a debate in parliament’s upper House of Lords later on Wednesday that would give ministers the powers to block a deal, the person said.
The decision comes at a time when Britain is using a separate regulatory process to weigh up whether to allow the bid by Jeff Zucker’s Redbird for the Telegraph.
The battle over one of Britain’s most famous newspapers has raised questions about the independence of the media and the role of foreign investors in acquiring assets that could undermine press freedom.
A spokesman for Prime Minister Rishi Sunak said the government would lay out its position in a debate later on Wednesday.
This story originally appeared on NYPost
