Britain Eases Foreign Ownership Rules for Media Reforms

In a bid to modernize media ownership regulations, the British government announced plans to permit foreign state-owned investors to own up to 15% of newspaper publishers. This reform aims to resolve ongoing uncertainties concerning the ownership of the Telegraph newspaper, providing clarity for the media sector.

Culture Secretary Lisa Nandy emphasized the importance of protecting media plurality amid changing news consumption habits. The reforms will extend the government's oversight of media mergers, encompassing news websites and magazines, reflecting the broader landscape of today's media industry.

While the initiative aims to safeguard against foreign state control, it also acknowledges the necessity for news organizations to access essential funding. This change will potentially allow entities like Abu Dhabi-backed RedBird IMI to maintain partial ownership of the Telegraph, promoting financial sustainability for the publication.

(With inputs from agencies.)