Consultation on The Enterprise Act 2002 (Mergers Involving Newspaper Enterprises and Foreign Powers) Regulations 2024
- From:
- Department for Culture, Media and Sport
- Published
- 9 May 2024
- Last updated
-
2315 May20242025 — See all updates
Read the full outcome
Foreign State Intervention (FSI) impact assessment
PDF, 1.43 MB, 65 pages
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Foreign State Intervention (FSI) impact assessment
PDF, 1.43 MB, 65 pages
This file may not be suitable for users of assistive technology.
Request an accessible format.
Detail of outcome
The government has taken the consultation responses carefully into consideration, and intends to move forward with the drafting of the regulations as outlined in the original consultation but with one significant change reflecting the views received from newspaper groups who responded to the consultation. The government is intent on ensuring there is no weakening but wants to simplify the regime and increase the flexibility available to newspaper enterprises.
The government has therefore has decided to remove the different threshold for diversified businesses. Now, in all cases, the government intends to limit the level of shares or voting rights that an SOI can hold to up to 15% of total available shares or voting rights in the newspaper owner.
The government also intends to proceed with the exceptions for retail investments and small shareholdings which were outlined in the consultation.
Original consultation
Summary
Technical consultation on draft regulations relating to the foreign state ownership of newspaper provisions in the Digital Markets, Competition and Consumers Bill.
This consultation closesran atfrom
Consultation description
On 26 March 2024 the government brought forward amendments to the Digital Markets, Competition and Consumers Bill (the DMCC Bill) to create a new foreign state intervention (FSI) regime for newspapers and periodic news magazines. This new regime will ban foreign state ownership, control, or influence over newspapers and news magazines. We will be bringing forward regulations which will create targeted and specific exemptions for specific types of passive investment up to a low threshold. This technical consultation is intended to provide an opportunity for newspapers businesses and other interested stakeholders to comment on the draft regulations.
The consultation was due to close at 23:59 on 23 May. In view of the announcement on 22 May that a general election will take place on 4 July 2024, it will not now be possible to lay The Enterprise Act 2002 (Mergers Involving Newspaper Enterprises and Foreign Powers) Regulations 2024 before Parliament is prorogued and then dissolved. We have therefore decided to extend the consultation until 23:59 on 9 July 2024 when the new Parliament will first meet, in order to allow more time for comments on the draft regulations to be submitted.
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Published 9 May 2024
Last updated 2315 May 2024
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Consultation description
On 26 March 2024 the government brought forward amendments to the Digital Markets, Competition and Consumers Bill (the DMCC Bill) to create a new foreign state intervention (FSI) regime for newspapers and periodic news magazines. This new regime will ban foreign state ownership, control, or influence over newspapers and news magazines. We will be bringing forward regulations which will create targeted and specific exemptions for specific types of passive investment up to a low threshold. This technical consultation is intended to provide an opportunity for newspapers businesses and other interested stakeholders to comment on the draft regulations.
The consultation was due to close at 23:59 on 23 May. In view of the announcement on 22 May that a general election will take place on 4 July 2024, it will not now be possible to lay The Enterprise Act 2002 (Mergers Involving Newspaper Enterprises and Foreign Powers) Regulations 2024 before Parliament is prorogued and then dissolved. We have therefore decided to extend the consultation until 23:59 on 9 July 2024 when the new Parliament will first meet, in order to allow more time for comments on the draft regulations to be submitted.
Documents
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