From: Department for Culture, Media and
Sport and The Rt Hon KC MP
My Department has today written to the Barclay family and RedBird
IMI, the current and proposed owners of Telegraph Media Group
(TMG), to inform them that I will be issuing a Public Interest
Intervention Notice (PIIN) in relation to the anticipated
acquisition of the Telegraph Media Group Ltd (TMG) by Redbird
IMI.
This relates to concerns I have that there may be public interest
considerations – as set out in section 58 of Enterprise Act 2002
– that are relevant to the anticipated acquisition of TMG by
RedBird IMI and that these concerns warrant further
investigation.
At this stage, my decision to issue the PIIN triggers the
requirement for the Competition and Markets Authority (CMA) to
report to me on jurisdictional and competition matters, and for
Ofcom to report to me on the media public interest consideration
in section 58(2A) of the Enterprise Act 2002 – namely, the need
for accurate presentation of news and free expression of opinion
in newspapers. I have asked both the CMA and Ofcom to report back
to me by 26 January 2024.
I reserve the right to take such further action under the Act as
I consider appropriate, which may, if appropriate, include
exercising my powers under section 42 of the Act in relation to
any other relevant merger situation. My decision to issue a PIIN
today is without prejudice to my ability to take any such
additional action in accordance with the Act.
My role as the Secretary of State in this process is
quasi-judicial and procedures are in place to ensure that I act
independently and follow a process which is scrupulously fair,
transparent and impartial.
DCMS will update Parliament only after both reports from the
regulators have been received and considered.
