Abu Dhabi's IMI rejects UK Ofcom report into Telegraph bid
International Media Investments (IMI) has rejected Ofcom’s report into RedBird IMI’s bid for The Telegraph , criticising its “methodology, reasoning and conclusions which were reached before the evidence was examined”. The British media regulator’s report, which has been released by the UK's Culture Secretary Lisa Nandy, followed a protracted takeover saga involving the British newspaper group…
International Media Investments (IMI), an Abu Dhabi-based media company, has dismissed Ofcom’s report into its bid for The Telegraph, criticizing its methodology, reasoning, and conclusions that were drawn before evidence was examined. The UK government had published the report, part of an initial Ofcom review, despite the bid being completed at a profit just before the review began.
IMI, which owns The National and Sky News Arabia, stated that Ofcom was tasked with assessing a commercial media company but failed to do so, admitting it ignored IMI’s actual track record. This report, published by Culture Secretary Lisa Nandy, followed a takeover saga that ended when IMI sold the newspaper group to German media conglomerate Axel Springer in April.
IMI accused Ofcom of using an "arbitrary and biased set of assumptions" and criticized its failure to consider IMI's legally binding undertakings that would protect The Telegraph’s editorial independence. IMI also pointed out that Ofcom made no findings of editorial interference against the company and defended its strong compliance record with the Editors’ Code of Practice.
Written by urgent.news from The National Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Abu Dhabi's IMI rejects UK Ofcom report into Telegraph bid thenationalnews.com
