Under the new law, foreign countries will be allowed to own up to 15% of British newspapers and news magazines.

The move comes after a bid for the acquisition of bystanders of Telegram and Red Bird IMI, supported by the ruling family of Abu Dhabi, which then-Conservative government banned foreign governments from possessing British documents after strong protests from members of parliament.

But state-owned investors (SOIs) — including sovereign wealth funds, public pensions or social security schemes — will be able to collect British newspapers under the law changes announced Thursday.

Culture Minister Lisa Nandy said the changes would protect “media diversification” while helping cash-strapped publishers “raise important funds.”

After consultations on the ban, Labor said many newspaper groups believed that the total ban was too restrictive to secure financing.

Ministers set the threshold for 15% stake in SOI or voting rights in newspapers or news magazines because it is "the most efficient, simple and proportionate way".

The ban comes from the script of bystanders who seized audiences of the Telegram and its sister magazines from the Barclay Family in June 2023 to collect £1 billion in debt from its former owner.

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But panic over foreign controls in two major UK newspapers has led to Parliament's digital markets, competition and consumer laws for 2024, which prevents foreign countries from gaining ownership, control or influence over British newspapers and news magazines.

The audience then sold last year to Sir Paul Marshall, the billionaire who has appointed former cabinet minister Lord Goff as its editor.

Nandy said in a statement: “The UK’s free and independent media is a distinctive national asset and is right that we have taken strong measures to allow for review of British takeovers that may be in violation of the public interest.

“We fully adhere to the need to protect the news media from foreign state control while recognizing that news organizations must be able to raise important funds.

“For low-risk investments, we are taking a proportional, balanced approach to eliminate the potential apathy impact on news sustainability.”