UNITED KINGDOM - A ban on foreign powers owning U.K. newspapers and magazines, prompted by concern over the gulf state-backed takeover of the Telegraph, may be extended to online news websites, the government has said.
Media minister Lord Parkinson of Whitley Bay told Parliament expanding the ban, covering direct foreign state investment of any size, would be consulted on to reflect the modern news industry and safeguard press freedom.
The Tory frontbencher also said there would be an exemption for indirect or “passive” investment by foreign states, such as sovereign wealth and pension funds, capped at 5%.
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