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Update on the anticipated acquisition of Telegraph Media Group Limited

19 March 2024

Proposing MP
Lucy Frazer Con
South East Cambridgeshire
Type
Written Ministerial Statement
Department
Department for Culture, Media and Sport
View on Parliament.uk -->

At a Glance

Issue Summary

Lucy Frazer is updating Parliament on her decision to refer the acquisition of Telegraph Media Group Ltd by RB Investco Ltd for a Phase 2 investigation based on public interest considerations.

Action Requested

The minister has decided to refer the merger to a Phase 2 investigation and will publish the CMA and Ofcom reports, along with letters setting out the 'minded-to' decision. She also requires parties involved to make representations by 9am on 25 March 2024 before reaching a final decision.

Key Facts

  • The PIIN was issued on 26 January 2024.
  • Ofcom reported on media public interest considerations and CMA reported on jurisdiction and competition issues by 11 March.
  • The CMA found no substantial lessening of competition but the merger may act against the public interest.
  • Parties have until 9am on 25 March 2024 to respond to representations.
  • Pre-emptive Action Order from 29 January 2024 continues to apply to merging parties and related entities.
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