Press Holdings, the media company owned by Sir David and Sir Frederick Barclay announced on Tuesday that the Department of Trade and Industry (DTI) and the Secretary of State, Patricia Hewitt have approved the firm's application to purchase the Daily Telegraph.
The public interest test which the Barclay twins have now passed consists of looking at whether a potential proprietor has a history of interference on an editorial level, whether the newspapers that they own accurately present news, and what the effect of the deal is likely to be on the plurality of ownership.
Although the transfer of ownership from Hollinger International to the Barclay brothers has already taken place, they would have been forced to sell the newspaper if the public interest test had not been passed.
The Office of Fair Trading (OFT) has yet to complete its examination of possible competition issues which could be raised by the deal, but given that the national media interests of the brothers are small, observers suggest that it is unlikely that this final hurdle will not also be cleared.
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