UK To Seek Ban On Foreign State Ownership Of British Newspapers

This move threatens the potential acquisition of the Telegraph Media Group by a group mainly owned by UAE's Sheikh Mansour bin Zayed Al Nahyan.

Media Minister Stephen Parkinson stated the government aims to alter the upcoming legislation to block such foreign state ownership.

Controversy erupted over the attempted buyout of the Telegraph and Spectator by RedBird IMI, a venture consisting of RedBird Capital from the US and Abu Dhabi's International Media Investments.

Last November, this joint venture closed a £1.2 billion deal with the Barclays, the owning family, assuming control after settling the group's debts.

The government responded to media outcry by investigating the sale for public interest, while some Conservative party members and press freedom advocates expressed worries.

Sheikh Mansour, also the owner of Manchester City FC, predominately owns RedBird IMI. Jeff Zucker, the venture chief and ex-CNN president, claims the effort is American-led with Mansour as a non-active investor.