Daily Telegraph

Frazer has extended the closing date for proof in Day-to-day Telegraph investigation. (AP Picture/Relatives Cheung)

Culture Secretary Lucy Frazer extended the Monday closing date for the submission of evidence concerning the acquisition of the Daily Telegraph by way of one week.

The unique minimize-off date used to be set for March 25 however used to be extended to April 2 following a request from one of the vital involved events concerned. The extension provides stakeholders extra time to assemble and ship important paperwork as the federal government scrutinises the deal’s implications for media plurality and nationwide security.

The federal government made public a letter issued to Penultimate Funding Holdings, the corporate which held the Telegraph Media Staff and The Spectator on behalf of the Barclay domestic, informing it of the choice.

The federal government is particularly investigating the bid through RedBird IMI, a three way partnership between Gerry Cardinale’s RedBird Capital and Global Media Investments (IMI) of Abu Dhabi, that is led by means of former CNN chief Jeff Zucker and funded basically by means of Sheikh Mansour bin Zayed Al Nahyan, UAE’s vice-president.

Frazer halted the deal’s progress in December when she issued a Public Passion Intervention Discover (PIIN), prompting investigations via Ofcom and the Competition and Markets Authority (CMA) into the deal’s implications for press freedom.

Since the PIIN commenced the Conservative executive announced plans to put in force a ban on foreign state-related majority possession of UK media assets through a legislative modification to the Digital Markets Bill.

Despite Zucker’s vow to protect the newspaper’s “editorial independence” will have to he be triumphant in the buy, maintaining IMI was once a passive investor, he has failed to soothe concerned journalists and a group of Tory politicians who’ve when you consider that pushed for changes to the law.

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