Baroness Stowell of Beeston:

Moved by Baroness Stowell of Beeston

67: After Clause 146, insert the following new Clause—“Foreign power acquisition of news media organisations(1) A foreign power (as defined in section 32 of the National Security Act 2023) may not acquire a news media organisation or publisher of news in any form ("a publisher") where the publisher's primary place of business is in the United Kingdom, unless the conditions in subsections (2) to (4) are met.(2) Investigations by the CMA under sections 44 and 45 of the EA 2002 and by OFCOM under section 44A of the EA 2002 have been completed.(3) The Secretary of State has made and published their decision under section 54 of the EA 2002 stating that there are no competition-related or consumer-related concerns.(4) Where the conditions in subsections (2) and (3) are met, the Secretary of State must by regulations approve the acquisition.(5) Regulations under subsection (4) are subject to the affirmative procedure.”Member’s explanatory statementThis amendment would prevent the acquisition of a UK news media organisation by a foreign power without the approval of both Houses of Parliament, where competition or consumer-related concerns have been raised.