The next three days could have major consequences for the British media landscape. On Monday, Ofcom will deliver its findings to Lucy Frazer, the Culture Secretary, on the proposed acquisition by the UAE-backed RedBird IMI of the Telegraph and Spectator titles. Then on Wednesday, Baroness Stowell’s amendment to the Digital Markets Bill is being debated in the House of Lords. If passed, this would give parliament a veto on foreign states owning UK media outlets.
That process could well be overtaken by events in parliament
Ofcom’s report will examine the impact of the deal on the need for accurate presentation of news and free expression of opinion in newspapers. Lucy Frazer has repeatedly stressed throughout the process that she is unable to comment on proceedings, insisting that her role is ‘quasi-judicial’. However after Ofcom delivers its report, she will have to decide whether she wants to launch an in-depth investigation by the Competition and Markets Authority which could last until October.
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