Question to the Department for Digital, Culture, Media & Sport:

To ask His Majesty's Government whether they have had, or plan to have, consultations with individuals or organisations other than Ofcom and the Competition and Markets Authority in relation to the proposed acquisition of the Telegraph Media Group by RedBird IMI; and, if so, with which individuals or organisations.

On 26 January the Secretary of State for Culture, Media and Sport issued a new Public Interest Intervention Notice in respect of the anticipated acquisition of Telegraph Media Group by RB Investco Ltd.

This follows Redbird IMI making changes to the corporate structure of the potential acquiring entities of the Telegraph Media Group. This created a new limited partnership which would hold all shares in RB Investco – the proposed purchaser of Telegraph Media Group. The Secretary of State has come to the conclusion that this corporate restructure creates a new relevant merger situation.

The Notice triggers a requirement for the Competition and Markets Authority (CMA) to report to the Secretary of State on jurisdictional and competition matters, and for Ofcom to report on the specified media public interest considerations. Ofcom and the CMA have now both launched invitations for public comment, and will report to the Secretary of State on the issues specified in the Notice by 9.00 a.m. on 11 March 2024.

The Public Interest Intervention Notice issued on 30 November 2023 in regard to the acquisition of Telegraph Media Group Limited by RedBird IMI Media Joint Venture LLC remains in force. The deadline by when the Secretary of State expects to receive Ofcom and the CMA’s reports in relation to this Notice has also been extended to 9.00 a.m. on 11 March 2024 so as to align with the deadline for the reports she has requested in relation to the new Notice.

The Pre-emptive Action Order made on 1 December 2023 remains in force.

It would be inappropriate to comment further at this time given this is an ongoing regulatory intervention.