Newspapers: Foreign Ownership

Debate between Baroness Caine of Kentish Town and Baroness Twycross

Wednesday 16th July 2025 Lords Chamber

[Baroness Twycross (Lab)]

On the regulations and the exception, I want to be clear: this is a privilege, not a right. It is about passive investment, which is why the level has been set at 15%. The Government have published the second set of regulations today, to put it beyond doubt that multiple states cannot act in concert to take a stake in a UK newspaper that is bigger than 15%. The FSI regime gives the Secretary of State a specific duty to intervene and to refer to the CMA for investigation merger cases that she suspects may have resulted, or may result, in foreign state control or influence over a newspaper enterprise’s policy. So these safeguards are in addition to what we would already consider to be quite clear duties on the part of the Secretary of State.

[Baroness Caine of Kentish Town (Lab)]

My Lords, we have all experienced the closure of local newspapers and radio stations—a worrying loss to local identity and politics—with those that remain generally having sought a future by being subsumed into a larger group. Does my noble friend the Minister agree that, although foreign investment is not entirely free of risk and should not be seen as a quick fix, unless these foreign companies invest in the future of outlets we all care about, those outlets will continue to lack the certainty and security they seek?

[Baroness Twycross (Lab)]

Media organisations desperately need investment to secure their modernisation and their future. It is really important that these historic or local titles, which we all value, are not something of the past but something of the future. Supporting the provision of high-quality, public-interest journalism is a priority for this Government; we need serious investment in order to support this sector to thrive and to meet the challenges of the future.