Prohibits foreign state control over newspaper enterprises

On 24 May 2024, the United Kingdom adopted the Digital Markets, Competition and Consumers Act 2024. This Act amends the Enterprise Act 2002 to prevent foreign state control over United Kingdom newspaper enterprises. Specifically, it prohibits foreign states, or entities connected to them, from owning, controlling, or influencing newspapers or periodical news magazines in the United Kingdom.

If the Secretary of State has reasonable grounds to believe that a merger involving a United Kingdom newspaper has resulted or would result in such foreign state ownership, control, or influence, they must issue a "foreign state intervention notice" to the Competition and Markets Authority. The new regime empowers the Secretary of State to block or reverse foreign state influence in newspaper mergers following the Competition and Markets Authority's investigation.

These provisions apply retroactively from 13 March 2024.

• Type:

  • Entry and establishment (Ownership and control)

• Industry:

  • Services (Publishing, audiovisual and broadcasting activities)

• Sources:

  • legislation.gov.uk, Digital Markets, Competition and Consumers Act 2024, https://www.legislation.gov.uk/ukpga/2024/13/pdfs/ukpga_20240013_en.pdf, 24 May 2024
  • Linklaters.com, Read all about it! UK prohibits foreign state ownership of UK newspapers, https://www.linklaters.com/en/insights/blogs/foreigninvestmentlinks/2024/june/uk-prohibits-foreign-state-ownership-of-uk-newspapers?utm_source=knowledge&utm_medium=email&utm_campaign=whatsnew&expiry=2024-06-19T15%3a44%3a29&userid=da22a2540cbd445b9240744d48757758&token=58b4faba95b8f0822e40f6858133402, 06 Jun 2024