Nine human rights and freedom of expression organisations have called on Culture Secretary Lisa Nandy to halt RedBird Capital's proposed £500 million takeover of the Daily Telegraph and Sunday Telegraph, citing concerns over the US private equity firm's ties to China.
In a letter, groups including Index on Censorship, Reporters Without Borders and Article 19 argue that RedBird's links with China 'threaten media pluralism, transparency and information integrity in the UK'. They point to RedBird chair John Thornton's role on the advisory council of China Investment Corporation, the country's largest sovereign wealth fund, and his previous chairmanship of the Silk Road Finance Corporation, describing both as 'vehicles through which China has pursued financial influence'.
The signatories urge Nandy to follow her predecessor Lucy Frazer, who issued a public interest intervention notice (PIIN) in January last year. They call for investigations by the Competition and Markets Authority and Ofcom, with independent consultation from experts in Chinese information manipulation and media pluralism.
Separately, former Conservative leader Iain Duncan Smith and independent peer David Alton have written to Nandy requesting an investigation into reported £5.3 million editorial budget cuts at the Telegraph, which they claim violate rules during a takeover process. A Telegraph spokesperson said the board and chief executive continue to fulfil fiduciary duties in line with governance protocols.
RedBird Capital, which contributed 25% of funding to the joint venture controlling the Telegraph, is buying out partner IMI, controlled by Sheikh Mansour bin Zayed Al Nahyan of the UAE. A RedBird spokesperson denied any Chinese involvement, stating the firm has been clear on press independence and that the takeover should now proceed to position the Telegraph for growth.
