‘I Would Resign’: Jeff Zucker Vows ‘Editorial Independence’ For The Telegraph if Abu Dhabi-Backed Bid Is Successful
Jeff Zucker listens to Democratic presidential primary debates hosted by CNN in 2019. (AP Photo/Paul Sancya)
Former head of CNN Jeff Zucker attempted to provide reassurance to those apprehensive of his proposed Abu Dhabi-backed takeover of The Telegraph, saying that “nothing is more important to me than editorial independence.”
Zucker’s investment group Redbird IMI is currently leading the charge to acquire The Telegraph and The Spectator with Abu Dhabi investment.
In an interview with The Telegraph’s business editor Christopher Williams Zucker said that he would step down if any editorial pressure from the UAE was proposed.
“If anyone were to come to me with even the suggestion of interference, I would resign,” Zucker said. “I understand why people have raised questions. All I can say is, they’re misplaced. I am here to say that the editorial independence of The Telegraph is guaranteed.”
“The editorial independence of The Telegraph is guaranteed,” he added. “Nobody is telling the Telegraph what to write or what not to write.”
Redbird IMI, led by Zucker, is a collaboration between the American firm Redbird Capital and International Media Investments, under the aegis of UAE’s deputy prime minister, Sheikh Mansour. This consortium is presently the top contender in the acquisition race, having structured a loan agreement to alleviate the Barclay family’s debts to Lloyds Banking Group.
However, the deal faces a ticking clock, with a repayment deadline set for December 1st to avert the Barclays’ holding company’s liquidation. Zucker remains optimistic, stating the group is “continuing to do due diligence” but feels “really positive” about the prospects.
Subscriber reactions under The Telegraph’s interview are mixed. Many express apprehension about Zucker’s past leadership at CNN and the potential shift in the newspaper’s conservative editorial stance. This sentiment is evidenced by a poll indicating that 27% of surveyed subscribers would be less inclined to renew if the UAE-backed deal proceeds.
“I spent 35 years either running news organisations, overseeing news organisations, or working in news organisations, supervising news organisations, or running them first hand,” Zucker told The Telegraph. “So my whole 35 years. My reputation, my legacy is built on complete editorial independence.”
He added: “On the three investments that we’ve made so far, IMI has never had any asks. I understand those investments are not of the size and stature of The Telegraph, but that’s what they agreed to, it’s what I agreed to and that’s how we’re doing it. I’m not going to trade 35 years of standing up for the truth to do something that’s wrong.”
Prominent figures, including former Conservative leaders and editors, have voiced concerns about the implications of foreign ownership on the perception and independence of British journalistic institutions.
The prospective acquisition by a fund backed by an autocratic Arab state has sparked concerns within British government. Several Conservative MPs, citing risks to free expression, have called for official probes into the transaction. Culture Secretary Lucy Frazer and the Commons culture committee are set to analyse and scrutinise the deal.
