For those who read it but not thoroughly enough, the reason for the license issue is that the company holding the license
did not have “editorial responsibility” for the channel’s output, and therefore “does not meet the legal requirement of having control over the licensed service.”
Also note that
The regulators also rejected a proposal by CGTN to transfer the license to a new entity after finding that it would ultimately be controlled by the Chinese Communist Party, and therefore be disqualified under UK law.
So while this doesn’t seem to be strictly political narrative, it definitely is about where the control of content is. The UK regulator is basically saying, if editorial control is with an entity under their jurisdiction you get to operate, if not you can get right off their airwaves.