More than 100 MPs from five different parties have supported powers to block the sale of the Telegraph to a UAE-funded firm, warning the move threatens to “seriously undermine” free press in the UK.
A letter signed by the cross-party group of MPs, sent to Culture Secretary Lucy Frazer from former housing minister Robert Jenrick, asked Mrs Frazer to accept the amendment to the Digital Markets Bill that was tabled in the House of Lords.
The amendment would require Parliament’s approval before UK news media organisations could be purchased by a foreign government.
“If major newspaper and media organisations can be purchased by foreign governments, the freedom of the press in the UK has the potential to be seriously undermined,” the letter said.
“No other democracy in the world has allowed a media outlet to be controlled by a foreign government. This is a dangerous Rubicon we should not cross.”
The proposed sale of the Telegraph newspapers and the Spectator is to RedBird IMI, which derives most of its funding from Sheikh Mansour bin Zayed al-Nahyan, a member of the ruling family of Abu Dhabi, who is vice-president of the UAE and owner of Manchester City FC.
It is understood that RedBird IMI is offering to help pay the £1.16 billion in debts that the current owners, the Barclay family, owe to Lloyds Bank.
Mr Jenrick said he urges the government to accept the tabled amendment.
“Our free press is a cornerstone of our democracy. We must do everything we can to protect it,” he said.
“Takeovers of news organisations by foreign governments should not only face the usual scrutiny by regulators and Government, but also from elected representatives in Parliament as a final bulwark for press freedom.
“From my conversations it is clear there is very wide cross-party support in the House of Commons for Baroness Stowell’s amendment. I urge the government to accept it, or have it forced upon them.”
The Government has ordered an investigation into the deal by regulators Ofcom and the Competition and Markets Authority. They have until March 11 to report.
In the meantime, RedBird IMI and Telegraph Media Group have been banned from making any changes to key staff or the structure of the Telegraph business, which also includes the Spectator magazine.
A Government spokesperson said: “The government will set out its position on amendments to the DMCC Bill in due course.”
It comes as RedBird IMI announced a £1.15 billion deal to buy the production company behind Fleabag and the Traitors.
The deal will see the firm, which is headed by former CNN president Jeff Zucker, take over London-based All3Media.
It came after an agreement with All3Media’s owners Warner Bros, Discovery and Liberty Global.
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