An Abu Dhabi fund controlled by a crown prince has paid $1.4 billion to acquire two venerable British publications while their CEO — former CNN boss Jeff Zucker — is facing an uphill battle as the U.K scrutinizes the deal over national security fears.
Zucker, who currently leads RedBird IMI, the investment firm, faces all manner of difficulty in acquiring the conservative daily The Telegraph and the distinguished political weekly magazine The Spectator, not least of which involves a British government inquiry, a national security investigation and pushback from newspaper staff and domestic politicians.
And the U.K.’s Cabinet Office, which scrutinizes deals that could harm the country’s national security, has now joined the probe.