Conservative factions in Britain are actively working to block US private companies with close connections to the Chinese Communist Party (CCP) from acquiring one of the nation’s most prominent newspapers.
Redbird Capital Partners, led by American financier John L. Thornton, who has long-standing ties with the CCP, is looking to purchase the Daily Telegraph—a reputable broadsheet that has shaped the UK’s right-leaning media landscape for nearly 170 years. Critics of this deal express concern that it is being framed as a normal business transaction, which could jeopardize the independence of the UK’s free press, effectively handing a subtle yet worrying influence over to Beijing.
Thornton is not just any investor; he was the inaugural member of the International Advisory Committee for the China Investment Corporation, which is the nation’s sovereign wealth fund. His background includes serving as a professor and directing a globally oriented leadership program at a state-run university in Beijing. Moreover, he chaired the Silk Road Finance Corporation, which supports Xi Jinping’s Belt and Road Initiative. In 2008, he was honored with the Friendship Award, a prestigious accolade given by China to foreign individuals who advance the country’s interests.
In a 2023 speech, Thornton urged Chinese officials to “enter” English media spaces, emphasizing the importance of the English language in global communication. “If you’re not involved,” he remarked, “the narratives are shaped by non-Chinese voices, leading to significant misrepresentation.” This highlights a sense of urgency to penetrate those crucial communication channels.
It’s noteworthy that Redbird has direct affiliations with the Chinese government. The firm is co-invested with Tencent, a tech giant that the U.S. Department of Defense classifies as a military enterprise. Redbird has established its headquarters in Hong Kong, placing it under China’s national security regulations.
For the acquisition to proceed, it requires the UK government’s approval. Recent legislation has attempted to prevent foreign governments from owning or influencing British news outlets, capping ownership stakes at a mere 5%. However, there’s currently a push by the Labour Government to amend these protections, proposing to raise that limit to 15% through new regulations.
Those who have insights into this deal say they are taken aback by lawmakers seemingly supporting Redbird over other potential bidders. A coalition of House members is preparing to vote on a significant procedural move to entirely halt proposed regulations and stop the transaction.
The Inter-Parliamentary Alliance on China (IPAC), which is opposing this deal, has collaborated with lawmakers from both houses to flag national security concerns related to Redbird and its CCP connections.
Some insiders suggest that there seems to be a reluctance to fully grasp the broader issues facing the UK media landscape, indicating that the motivations behind such transactions extend beyond simple business considerations. There are only a few outlets discussing the implications of Redbird’s ties to the CCP.
This situation doesn’t only concern the UK; Redbird is also involved with the company Skydance, which is exploring partnerships with Paramount. As Tencent is an investor in Skydance, this has raised eyebrows in the United States as well.
