Mind the Gulf: Britain thwarts UAE takeover bid for Telegraph newspaper

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The newspaper industry may be in duress, but a legacy brand like The Daily Telegraph in the UK is still an attractive asset that wields considerable influence. Former CNN president Jeff Zucker led a consortium to buy the paper that was primarily backed by money out of the United Arab Emirates. The joint venture had an ambitious vision, with hopes of expanding The Telegraph in the United States. But they never left the starting block. After weeks and months of growing pressure from British Conservative MPs, the government ordered a lengthy review of the takeover. However, before that process finishes, an amended law will come into force that bars foreign state ownership of a British newspaper.