Lisa Nandy, the culture secretary, set a 15% ownership limit for foreign state investment in UK newspapers to balance safeguarding media independence and addressing funding needs. Critics argue this limit is insufficient as a 15% stake can grant significant influence over operations, as demonstrated by case studies involving BP and the sale of the Observer. Observing that even a smaller stake, such as 9%, can ensure alignment with editorial values, the article suggests that 15% is dangerously high and could lead to undue foreign influence.
Lisa Nandy emphasizes the necessity of limiting foreign state ownership in UK newspapers to safeguard news media while acknowledging funding challenges faced by news organizations.
The 15% threshold for foreign ownership seems naive, as significant influence can stem from such a stake, evidenced by examples from BP and media ownership transitions.
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