Ofcom: UAE-backed Telegraph takeover risked press freedom

Media regulator Ofcom and the Competition and Markets Authority (CMA) have released reports concluding that a failed takeover of the Telegraph Media Group by a UAE-backed consortium would have risked undermining press freedom.

The reports addressed the proposed acquisition by RedBird IMI, a group majority-owned by Abu Dhabi’s International Media Investments (IMI). Ofcom concluded the deal may have “operated against the public interest” regarding the “free expression of opinion in newspapers” and raised concerns about the accurate presentation of news.

RedBird IMI withdrew its bid for the Telegraph and Spectator magazine in 2024 following UK government changes that banned foreign states from owning British newspapers and magazines. IMI has rejected the findings, stating that Ofcom “failed” to assess the group as a commercial media company.

The Telegraph was eventually sold to Axel Springer for £575 million earlier this year.