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Telegraph takeover by German buyer cleared by culture secretary
Lisa Nandy says there are no grounds to refer Axel Springer deal to Ofcom, ending almost three years of uncertainty for titles
The culture secretary has cleared Axel Springer’s £575m takeover of the Telegraph, paving the way for the end of almost three years of uncertainty over the ownership of the titles.
Lisa Nandy said that she does not believe there are grounds to intervene and refer the deal to the media regulator, Ofcom, for an in-depth regulatory investigation.
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State of Play
The traditional journalism business model has long since collapsed, and news organizations have shrunk or disappeared entirely. While a number of promising experiments are under way, the public has not shown a willingness to buy what news organizations are selling.