Newspaper state ownership rules to be watered down [Yahoo! Finance]
News Corporation - Class B (NWS)
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Source: Yahoo! Finance
Officials have been warned against the “unintended consequences” of new laws if drawn too strictly by lobbyists for the media mogul and his rival Lord Rothermere, the owner of The Daily Mail. Mr Murdoch's holding company News Corp, which is listed in New York, is understood to be concerned that its shareholders could inadvertently breach a proposed 5pc cap on foreign state shareholdings. Both News Corp and DMGT, Lord Rothermere's company, are also said to have protested that very strict legislation could cut them off from future opportunities for outside investment that would not involve state influence over their newspapers. Titles owned by News Corp and DMGT, a potential bidder for The Telegraph, were vocal opponents of the UAE-backed bid from RedBird IMI. The fierce public controversy that led to the planned laws on foreign state ownership of the media, which have effectively killed the bid . The Telegraph is now expected to go up for sale again in the coming weeks. Depart
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