L

Lord Fox (LD)

Speaking in the House of Lords on 19 November 2025

Debate

Telegraph Media Group

Contribution

I thank the Minister for that Answer. When the Government hastily tabled the statutory instrument that was specifically designed to allow RedBird to make its acquisition, it was crystal clear to many of us that the deal was wrong. Now the financial wreckage left behind by RedBird’s exit is very complex. For example, some reports suggest that Abu Dhabi-based International Media Investments could retain huge residual interest in the Telegraph and, depending on the final price of any sale, that could be well more than 15%. The Telegraph Media Group clearly needs a white knight acquirer, but to ensure the best interest does the Minister agree that none of the players involved in the deals to date should be driving the sale process? Does she also concede that, given DCMS’s failure to read the financial room, it too should stand aside in favour of the Cabinet Office or perhaps an external adviser experienced in dealing with these kinds of complex issues?

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