The Secretary of State for Culture, Media and Sport has announced plans to update the media mergers regime, following a consultation last year (on which we previously commented here).

Four key changes have been proposed:

• The scope of the regime will extend beyond television, radio, and print newspapers so that – in order to reflect modern news consumption – the Secretary of State will also be able to scrutinise takeovers involving online news platforms and periodical news magazines.
• As matters currently stand, the Secretary of State can intervene in transactions involving newspapers on the grounds of: (i) the need for accurate presentation of news; (ii) the need for free expression of opinion; and (iii) the need for, to the extent that it is reasonable and practicable, a sufficient plurality of views in newspapers in each market in the United Kingdom or a part of the United Kingdom. The new rules will extend the application of these so-called ‘public interest considerations’ so that the Secretary of State can also rely on them when intervening in mergers involving online news publications and broadcast ‘news programmes’.
• The public interest consideration that currently only applies to broadcasting and refers to the need “in relation to every different audience in the UK or in a particular area or locality in the UK, for there to be a sufficient plurality of persons with control of the media enterprises serving that audience” will also apply to newspapers.
• A State-Owned Investor holding up to 15% of the total available shares or voting rights in the owner of a newspaper will be exempt from the Foreign State Influence regime which was introduced last year.

To read the Government response in full, click here.