RedBird IMI Proposes New Structure for Telegraph Acquisition Amid Concerns
Culture Secretary Lucy Frazer expected to announce fresh public interest probe as MP Neil O'Brien urges further scrutiny.
Overview
- RedBird IMI, the Abu Dhabi-backed vehicle trying to buy The Daily Telegraph, has proposed to amend its corporate structure to ease opponents' concerns about media freedoms.
- Culture Secretary Lucy Frazer is expected to announce a fresh public interest probe into RedBird IMI's acquisition of the Telegraph titles.
- RedBird IMI's proposed structure is the same as the previous one, with 75% ownership by IMI in Abu Dhabi and 25% by RedBird of the US.
- Conservative MP Neil O'Brien has urged ministers to extend the probe into the Telegraph takeover, warning that RedBird IMI may already be exerting 'material influence' over the newspaper.
- RedBird IMI is confident that the editorial protections it has submitted to Ofcom will address any concerns and pave the way for the deal to be approved.