Jeff Zucker’s bid to buy the UK’s Telegraph Group is all but dead after Prime Minister Rishi Sunak set out plans to change the law to prevent foreign states from buying British news outlets.
Zucker, the CNN chief, is now CEO of media investment firm RedBird IMI, which is backed by an Abu Dhabi fund controlled by UAE Vice President Sheikh Mansour bin Zayed al-Nahyan — who also owns the Manchester City football club.
Their attempted $1.4 billion take over of the conservative newspaper and its sister publication, The Spectator magazine, generated “fierce resistance” from Britain’s Conservative party, The Financial Times reported.
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