Telegraph Media Group: Proposed Sale to RedBird IMI

Lord Moore of Etchingham Excerpts

Wednesday 31st January 2024 Lords Chamber

[Lord Parkinson of Whitley Bay (Con)]

As the noble Lord said, the Government are currently reviewing the recommendations on changes to the media public interest test that were set out in Ofcom’s 2021 statement on media plurality to ensure that we fully understand the implications of such changes, including on the industry, whatever the title. I am confident that this work will be completed soon, which will allow the Government to respond in due course.

[Lord Moore of Etchingham (Non-Afl)]

My Lords, I declare an interest as an employee of the Daily Telegraph. May I ask the Minister a couple of points that I do not think depend on the quasi-judicial process? First, can he confirm that, when this was an auction organised by Lloyds Bank, before it took its current form, the Government stipulated that there should be no more than a 25% maximum owned by a Middle Eastern power? Can he also tell us whether, in the investigations going on, there is any investigation of this issue from a national security point of view?