NUJ would welcome investigation into Telegraph takeover

The proposed takeover of the Telegraph Media Group by the Daily Mail and General Trust (DMGT) may need to be referred for regulatory scrutiny, UK culture secretary, Lisa Nandy, has suggested.

DMGT announced it had agreed a £500m deal with RedBird IMI on 22 November, shortly after the US private equity firm abandoned its own takeover bid.

Yesterday (20 January) Nandy announced that her department is leaning towards referring the sale to Ofcom and the Competition and Markets Authority (CMA) for investigation on competition and public interest grounds. The NUJ would support such a move.

In a written statement, Nandy said: “Following a thorough consideration of the terms set out in the derogation request and independent research, my department has today written to the current and proposed owners of the Telegraph Media Group on my behalf to inform them that I am minded to intervene. This will enable the necessary regulatory scrutiny to commence.”

DMGT already owns a 50.6% share of the daily national print newspaper market through the Daily Mail, the Metro and the i, according to data provided to the Department for Digital, Culture, Media & Sport (DCMS).

Laura Davison, NUJ general secretary, said:

“Regulatory scrutiny would be welcomed by the NUJ, and we will consult members at the Telegraph before responding to any investigation.

“More generally, the NUJ has long been expressing concerns about the consolidation and concentration of media ownership in the UK. Media plurality is absolutely vital in a functioning democracy and for the overall health of journalism, which is why the union wants to see a maximum market share set at 25% across all platforms and on each of radio, television, newspapers and online.”

Return to listing