UK: Telegraph Back Up for Sale After UAE-Backed Takeover Blocked
UK: GovernmentTelegraph BlocksBack Up for Sale After UAE-Backed Takeover of Telegraph NewspaperBlocked
The Facts
The British government on Tuesday gave the green light for the re-sale of the Daily Telegraph, the Sunday Telegraph and the Spectator Magazine after blocking an acquisition of the titles by an investment firm with ties to the royal family of the United Arab Emirates.
The UK Government on has permitted re-sale of the Daily Telegraph, the Sunday Telegraph, and the Spectator Magazine after blocking an acquisition of the media outlets by an investment firm with ties to the royal family of the United Arab Emirates (UAE).
The Spin
The proposed RedBird IMI acquisition of the Telegraph titles forced the UK government and public to think about the extent to which national infrastructure — including its newspapers — should be in the hands of foreign governments. Clearly, having one the UK's biggest titles under the control of a dictatorship, which restricts press freedom among its own people and journalists, isn't the best idea.
While there are legitimate press freedom concerns about a UAE-backed investment fund owning a major British newspaper title, most of the discussion around this reeks of self-interest and hypocrisy. The UAE backers are in large part more respectable than many UK newspaper owners, and their deep pockets would likely make the Telegraph titles thrive again. Commotion by competitors over this sale can easily be reduced to fears over the media group’s revival.
