UK Newspapers and News Magazines: Foreign Investment
Debate between Lord Moore of Etchingham and Baroness Twycross
Baroness Twycross (Lab)
The purchase of UK newspapers and news magazines by foreign states, as the noble Baroness will be aware, runs the risk of eroding trust in the press. We agree that it is right that the UK has explicit protections in relation to this. Since the consultation closed in July last year, DCMS Ministers and officials have been considering the responses carefully. The consultation raises complex issues and involves multiple interests across government. We are committed to considering this carefully and ensuring we understand the implications of such changes, including on the industry. It is important that we get this right.
Lord Moore of Etchingham (Non-Afl)
My Lords, I declare an interest as a Telegraph employee. I regret the way the Minister appears to be just reading out the same answer. It is important in a news business that we can get on. The most important word in the Question rightly repeated by the noble Baroness, Lady Stowell, is “when”. Are we not entitled for a term to be brought to this absurdly long process?
Baroness Twycross (Lab)
I can only apologise for having the same answers, but the issue has not yet been resolved. We are working to resolve it as soon as possible, but, as I mentioned, there are complex issues that need to be dealt with effectively. It remains the case that I am confident I will be able to report back to your Lordships’ House in the near future. Clearly, I would have liked to have been able to have done so before today.
Telegraph Newspapers
Debate between Lord Moore of Etchingham and Baroness Twycross
Baroness Twycross (Lab)
I hear the frustration from the noble Baroness. I know she has been campaigning on this for some time. The Government have not issued a foreign state influence notice because RedBird IMI has signalled its intention to sell in compliance with the new law prohibiting foreign state ownership of newspapers, so the Government are allowing it to conduct the sale.
On the SI to which the noble Baroness referred, there has been a general election in the interim since the legislation was passed by the previous Government. Ministers recognise the high importance of foreign states not being allowed to influence the policy of UK newspapers, but there should be a balance to encourage investment into the press sector. Therefore, we are carefully considering a response to the consultation. We hope to publish a response very soon and lay the SI shortly after that.
Lord Moore of Etchingham (Non-Afl)
My Lords, I declare an interest as an employee of the Telegraph Media Group. I am grateful for what the Minister says about the sense of urgency, but it has not been apparent so far, and this has gone on for a long time. Newspapers live by deadlines, not such a familiar phenomenon in the quasi-judicial capacity, and we really do need the deadline to be met. This affects the newspaper most importantly, but does the Minister agree that it also makes it quite difficult for potential buyers and the seller, because they do not understand the terms on which they are doing it? The delay is fundamental to the whole problem.
Baroness Twycross (Lab)
I am not sure that the company selling the Telegraph is unclear about the rules under which it is operating. We are allowing the company RedBird IMI to conduct the sale. DCMS meets regularly with representatives from the parties and is monitoring the situation closely, but it is the clear intention of the parties to sell as soon as possible.