The Spectator and the Telegraph papers were put up for sale last year when they were seized by Lloyds Banking Group from long-time owners the Barclay family, who had failed to pay back a loan of more than £1bn.
They were sold to RedBird IMI in a deal which valued the publications at around £600m, before the government intervened and passed legislation, prompting RedBird to halt the takeover and put them back up for sale.
As a weekly news publication, the Spectator is not defined as a “newspaper” under the Enterprise Act and therefore does not fall within scope of the culture secretary’s powers to examine media mergers in the public interest.
“It is essential that the availability of a wide range of accurate and high-quality news and perspectives can be protected, and that the regime we have in place is equipped to keep up with changes and development in our media landscape,” a spokesperson for the Department for Digital, Culture, Media and Sport said.
“The culture secretary is now considering recommendations previously put forward by the independent regulator Ofcom on the function of the current regime.”
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