British conservatives are raising alarms about the potential takeover of the Daily Telegraph, a historic newspaper in the UK, by US private firms deeply connected to the Chinese Communist Party (CCP).
Redbird Capital Partners, led by John L. Thornton—an American financier with long-standing ties to the CCP—is looking to acquire the 169-year-old publication, which has been a cornerstone of the UK’s center-right media. Critics argue that presenting this acquisition as a standard business deal could severely undermine the independence of the UK’s free press, and allow Beijing to gain a dangerously influential foothold.
Thornton previously served on the International Advisory Committee of the China Investment Corporation (CIC), which is the national sovereign wealth fund. He’s held positions such as the director of a global leadership program at a state-affiliated university in Beijing and led the Silk Road Finance Corporation to support Xi Jinping’s Belt and Road Initiative. In 2008, he received the Friendship Award, which is one of the highest honors given by the PRC to foreign nationals benefiting Chinese interests.
In 2023, he urged Chinese officials to enhance their presence in English-speaking platforms, claiming, “English rules the world’s communication channels.” He remarked at the University of Texas at Austin that there’s a significant gap in how Chinese narratives are conveyed, emphasizing the need for Chinese perspectives in storytelling.
Redbird, the company spearheading the acquisition, is also connected to Tencent—an influential Chinese tech giant labeled by the U.S. Department of Defense as a Chinese military entity. Redbird’s headquarters in Hong Kong places it under China’s national security laws.
This acquisition is pending approval from the UK government, which previously enacted a law limiting foreign ownership of British news outlets, restricting their shares to only 5%. However, there’s a troubling move from the Labour Government looking to increase these caps to 15% through new regulations, according to some reports.
Those familiar with the situation have expressed surprise at the apparent backing for Redbird’s bid, especially given the new legal changes being proposed to facilitate this takeover.
A coalition in the House is set to vote on a measure that could definitively squash proposed regulations, essentially freezing the acquisition process. The Inter-Parliamentary Alliance on China (IPAC), which opposes the deal, has been alerting lawmakers to national security risks associated with Redbird’s connections to the CCP.
There’s a broader concern regarding the UK media landscape, suggesting these business movements may have implications that extend beyond mere financial interests. Not many outlets are discussing Redbird’s CCP ties, which adds another layer of unease to the situation.
This issue isn’t limited to the UK alone. Redbird is also pursuing an investment in Skydance, which is a smaller player in the media sector that also has links to Tencent, raising alarms in the U.S. as well.
