Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Culture, Media and Sport, whether her Department is taking steps to ensure transparency in debt financing transactions that may potentially grant a foreign entity or individual material influence over a newspaper.

Under the Enterprise Act 2002, the Secretary of State for Culture, Media and Sport has jurisdiction to intervene in a transaction involving a media company if they have reasonable grounds for suspecting that the transaction is or may amount to a ‘relevant merger situation’. A relevant merger situation is where two or more entities cease to be distinct, and at least one of the statutory thresholds around turnover and/or market share is met.

Where jurisdiction is established, the Secretary of State for Culture, Media and Sport has discretion to intervene if they believe that it is or may be the case that one or more public interest considerations outlined under Section 58 of the Enterprise Act 2002 is relevant.

For transactions involving newspapers, these public interest considerations are: the need for accurate presentation of news; the need for free expression of opinion; and the need, in relation to every different audience in the United Kingdom or in a particular area or locality of the United Kingdom, for there to be a sufficient plurality of persons with control of the media enterprises serving that audience.

Further details of the process and grounds for intervention are set out in the Enterprise Act 2002 here.