Latest news with #Stowell
Spectator
20-07-2025
- Business
- Spectator
Inside the Lords battle on foreign media ownership
After a two-year impasse, the future of the Daily Telegraph could be resolved shortly. A £500m deal has been struck for US firm Redbird Capital to take control of the Telegraph Media Group, with state-backed Abu Dhabi investment vehicle IMI among investors. But a fresh challenge has arisen in the House of Lords. Peers are threatening to block minister's efforts to change the law to give foreign companies a greater stake in British media outfits – up from the existing five per cent to 15 cent. This is a necessary legal change to allow the Telegraph sale to go ahead. A 'fatal motion' will be held in the Lords on Tuesday; if passed, it would kill the government's plans. It is a device seldom wielded by peers, having been last used in 2012. But opponents are growing increasingly confident that the 'fatal motion' could succeed. Two separate fronts have opened up in the Lords. The first is led by Liberal Democrat peer Lord Fox, who tabled the motion. Lib Dem whips are understood to be pulling out all the stops to maximise turnout, including facilitating the attendance of their older peers who do not vote regularly. Their argument is simple: the power of the free press should not be sold to overseas companies susceptible to foreign government influence. The hope is that a sufficient number of Tory and Crossbench peers will vote it down. The second front is led by the cross-party Inter Parliamentary Alliance on China (Ipac) and its supporters like Lord Alton. Their focus is more directly on the Telegraph sale. Sir Iain Duncan Smith has written to Lisa Nandy, the Culture Secretary, arguing that a Foreign State Intervention Notice (FSNI) be issued in this case. A legal opinion by Tom Cross KC details alleged links between Redbird Capital's chairman John Thornton and the Chinese state, including his advisory roles on Beijing's sovereign wealth fund. Sir Iain argues that this is compelling evidence for Nandy to 'adhere to your statutory duty and issue a FSIN without delay.' Both groups are seeking to influence their colleagues across the House. Given the government's lack of a majority, the hope is that a sufficient number of Tory and Crossbench peers will vote it down. Tory whips are expected to vote against the fatal motion, though their colleagues will not be whipped to follow suit. Lord Forsyth, the respected chair of the Association of Conservative Peers, is expected to vote for the motion; others will likely follow his lead. One opponent notes that the Conservatives voted for fatal motions that successfully halted government legislation when they were last in opposition before 2010. A separate 'motion of regret' has been put down by Baroness Stowell, the former Leader of the House. Some supporters of the fatal motion fear it could frustrate their efforts, with wavering peers potentially voting for Stowell's amendment rather than Fox's. The government will argue that a statutory instrument can close the loophole whereby multiple states can each own 15 per cent of any publication. But their critics will counter that this is insufficient and will not stop the Telegraph deal from going ahead.
Yahoo
28-05-2025
- Business
- Yahoo
Labour plan to let foreign states team up to own newspapers sparks alarm
Labour's plan to let foreign powers own shares in newspapers has sparked alarm that they could team up to gain sway over Britain's free press. Lisa Nandy, the Culture Secretary, has proposed laws to allow states to hold passive stakes of up to 15pc in newspapers and news websites. There is no planned rule on what portion a group of foreign states could own, however, raising concerns in the House of Lords over 'where will it end?' The legislation is partly intended to dispel the uncertainty faced by The Telegraph since a takeover bid led by the United Arab Emirates was blocked by the Conservatives over a year ago. By easing an existing outright ban on foreign state ownership, Ms Nandy's plan is also meant to help improve British relations with the wealthy Gulf state, which were damaged by the saga. The UAE is now expected to become a silent minority shareholder in a consortium led by RedBird Capital Partners, the US private equity firm which was previously the junior partner in its bid. The Conservative Party leadership has said it will support a limit of 15pc. However, after analysing the proposed statutory instrument, the Tory peer Baroness Stowell, a pivotal figure in the rebellion that derailed the UAE bid, has written to Ms Nandy to demand changes. Baroness Stowell, who has said she will not oppose single passive stakes of up to 15pc, told The Telegraph: 'Without a cumulative limit on foreign state shareholdings you have to ask where will it end? 'You could have countries teaming up to seek influence. I don't understand why this hasn't been addressed in the proposed legislation. It may be that there are other ways the Government believes it can address this risk. If so, let's hear it and debate it.' Ministers have other powers to block foreign investments, such as those they believe are a potential threat to British security, under the National Security and Investment Act. Lord Fox, the Liberal Democrats' culture spokesman in the Lords, backed Baroness Stowell's demand for a rethink and said there were 'glaring loopholes … ready to be taken advantage of by foreign states'. He added: 'It's wrong that this Government has no qualms with multiple states owning unlimited aggregate stakes in British papers. The independence of UK media must not be made subject to foreign sway. 'We are pressing peers from right across the House to stand with us, block this legislation and defend press freedom.' The Liberal Democrats have tabled a rare 'fatal motion' in the Lords to obstruct Ms Nandy's legislation. They argue that it would effectively overturn the ban on foreign state ownership approved by Parliament last year. Some Conservative peers, led by Lord Forsyth, are expected to back the bid to block the legislation. He has said the idea that a stake of 15pc could be entirely passive was 'utterly naive'. The Conservatives originally proposed a limit of just 5pc to allow sovereign wealth funds to make small passive investments in newspapers, such as via share index trackers. Ms Nandy opted to increase the limit three-fold after lobbying on behalf of Rupert Murdoch and Lord Rothermere, the owner of The Daily Mail. She agreed with them that a 5pc limit would cut news publishers off from a potentially vital source of international capital at a turbulent time as the decline of print accelerates. It is not clear whether any foreign state has already made an equity or debt investment in a UK news publisher. The Independent news website, controlled by Lord Lebedev, sold a 30pc stake to a Saudi investor in 2017. A subsequent Ofcom investigation explored potential links between the investor and the Saudi state but did not draw conclusions. The Independent subsequently formed an editorial and commercial partnership with a Saudi state media company. Under Ms Nandy's proposals, she will have a duty to trigger regulatory investigations when there are concerns of foreign state influence. Baroness Stowell said there was a need to ensure MPs and peers had a bigger role, with a guarantee that questions about press freedom would be heard in the chamber. Questions she attempted to ask about the fate of The Telegraph were rejected by parliamentary officials in consultation with the Government on three occasions. Baroness Stowell said: 'My concern is that Parliament has all the tools it needs to protect freedom of the press. This is especially important given the proposals from the Government create an ongoing duty to monitor and investigate issues with foreign state investors. 'When it comes to press freedom it is critical that Parliament can ask any questions it sees fit.' The Department for Culture, Media and Sport was asked for comment. Sign in to access your portfolio
Yahoo
22-05-2025
- Yahoo
Altoona man sentenced nearly 4 years for drug trafficking in Central Pennsylvania
JOHNSTOWN, Pa. (WTAJ) — An Altoona man was sentenced in federal court for drug trafficking around Blair, Cambria, Centre and Clearfield counties, Acting United States Attorney Troy Rivetti announced. Andrew Stowell, 67, was sentenced to 46 months in prison, followed by two years of supervised release, by United States District Judge Stephanie L. Haines. Stowell was part of an Altoona-based drug trafficking organization, according to information presented to the court. On Dec. 12, 2022, Stowell sold a quarter-pound of methamphetamine to an undercover officer. Original Story: Ten Central Pennsylvanians indicted on federal charges for drugs, money laundering Rivetti commended the Drug Enforcement Administration, United States Postal Service–Office of Inspector General, United States Postal Inspection Service, Homeland Security Investigations, Internal Revenue Service-Criminal Investigation, Pittsburgh Bureau of Police, and Pennsylvania State Police for the investigation leading to the successful prosecution of United States Attorney Jonathan D. Lusty prosecuted this case on behalf of thegovernment. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
22-05-2025
- Yahoo
Altoona man sentenced nearly 4 years for drug trafficking in Central Pennsylvania
JOHNSTOWN, Pa. (WTAJ) — An Altoona man was sentenced in federal court for drug trafficking around Blair, Cambria, Centre and Clearfield counties, Acting United States Attorney Troy Rivetti announced. Andrew Stowell, 67, was sentenced to 46 months in prison, followed by two years of supervised release, by United States District Judge Stephanie L. Haines. Stowell was part of an Altoona-based drug trafficking organization, according to information presented to the court. On Dec. 12, 2022, Stowell sold a quarter-pound of methamphetamine to an undercover officer. Original Story: Ten Central Pennsylvanians indicted on federal charges for drugs, money laundering Rivetti commended the Drug Enforcement Administration, United States Postal Service–Office of Inspector General, United States Postal Inspection Service, Homeland Security Investigations, Internal Revenue Service-Criminal Investigation, Pittsburgh Bureau of Police, and Pennsylvania State Police for the investigation leading to the successful prosecution of United States Attorney Jonathan D. Lusty prosecuted this case on behalf of thegovernment. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
20-05-2025
- Business
- Yahoo
Foreign state ownership is a systemic threat to a free press
Last week I received an unexpected invitation to meet with Lisa Nandy, the Culture Secretary. I assumed it was to tell me that the Government was finally going to ask the Competition and Markets Authority (CMA) to end the uncertainty over the ownership of The Telegraph. I had raised the issue in the Lords on a number of occasions and was grateful for her courtesy. Instead I was astonished to learn that she had issued a press release announcing that the Government intended to reverse the decision taken by Parliament last year to ban foreign governments from owning or co-owning British newspapers. Her department, no doubt cheered on by the Foreign Office, had clearly surrendered to the lobbying from sovereign wealth funds, foreign governments and investors and extended the concession for ownership by sovereign wealth funds from 5pc to 15pc and included in that concession any foreign government, however odious their regime. It was only last year that a cross-party rebellion led by the redoubtable Baroness Stowell resulted in both Houses of Parliament amending primary legislation to place an absolute prohibition on foreign state ownership or control of British newspapers. A duty was imposed on the Culture Secretary under the amended Digital Markets, Competition and Consumers Act to block media mergers where a foreign power was deemed to have control or significant influence. Opinion polls showed more than two thirds of the public supported a ban. This was now to be reversed using secondary legislation. The text of the regulations were not available and it was unclear whether several foreign governments could each own 15pc of any newspaper. The Government says that this would only apply to passive investors, but it is utterly naive to believe that a 15pc holding would not result in a degree of influence. The CMA takes 15pc as a starting level to consider scrutiny for material influence in takeover bids. This threshold is unarguably a serious undermining of the safeguards Parliament voted for and a cynical manipulation of the statutory instrument which was intended to provide for a 5pc holding for existing sovereign wealth funds. Allowing foreign governments to hold stakes in national newspapers is a systemic threat to a free press and a free press is a necessary condition for a free country. We have a saying in Scotland that he who pays the piper calls the tune. Autocratic governments intent on acquiring stakes in our media are seeking influence opportunities not investment opportunities. Of course they are prepared to pay handsomely to achieve that. If permitted there is a potential unwelcome conflict of interest created between journalists and their employers. The Government's proposals are not some technical adjustment. They open the door to state-funded media and undermine independent journalism. At a time of great geopolitical upheaval, the Government should be strengthening media independence not trading it away for foreign capital. Now Parliament must act to reassert the protections enshrined in the legislation and make it clear that foreign governments have no place in ownership of our national media. Lord Forsyth is chairman of the Association of Conservative Peers and a former Cabinet minister Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
