Culture Society, Identity and Belonging
It’s another big week in the extended battle for The Daily Telegraph. At 9am today, Ofcom, the UK’s media regulator, finally reports to Culture Secretary Lucy Frazer on potential press freedom issues arising from the sale of the paper to RedBird IMI, which is 75 per cent backed by the vice-president of the United Arab Emirates. On Wednesday, the House of Lords will debate amending the Digital Markets, Competition and Consumers bill to allow parliament to stop foreign governments buying UK media companies. Last week, Tory peer Baroness Stowell begged Prime Minister Rishi Sunak to back the bipartisan amendment and is threatening to force a vote if he doesn’t. In 2019, the government failed to investigate Saudi businessman Sultan Muhammad Abuljadayel’s purchase of a 30 per cent stake in the Evening Standard and The Independent – majority owned by the Russian oligarch Evgeny Lebedev. Abuljadayel is reported to have links to the Saudi state. DMG Media, which owns Metro and The i, as well as the Mail titles, told the Lords in February it needed the Telegraph to bulk up and challenge the tech giants. DMG currently has a 40 per cent market share of UK newspaper circulation. The Telegraph would push this over 50 per cent. Other interested bidders include Rupert Murdoch’s News UK and hedge fund billionaire and GB News co-owner Paul Marshall.