The SCOTT TRUST LIMITED is the British company that owns Guardian Media Group and thus the Guardian and the Observer as well as various other media businesses in the UK. In 2008, it replaced the Scott Trust, which had owned the Guardian since 1936.
The company is responsible for appointing the editor of the Guardian
(and those of the group's other main newspapers) but, apart from
enjoining them to continue the paper's editorial policy on "the same
lines and in the same spirit as heretofore", it has a policy of not
interfering in their decisions. The arrangement tends to give editors
a long tenure: for example, the last incumbent,
The current chair of the Scott Trust Board is Alex Graham , who replaced Liz Forgan in 2016. Other board members include the current editor-in-chief Katharine Viner , Guardian finance editor Nils Pratley who is the journalist director of the board, and one member of the Scott family.
* 1 History
* 1.1 1936–1948 * 1.2 1948–2008 * 1.3 The Scott Trust Limited: 2008–present
* 2 The Scott Trust Board
* 2.1 Current members * 2.2 Past members
* 3 The Scott Trust Foundation * 4 References * 5 External links
The Trust was established in 1936 by John Scott, owner of the
Manchester Guardian (as it then was) and the
Manchester Evening News
The Trust was dissolved and reformed in 1948, as it was thought that
the Trust, under the terms of the original Trust Deed, had become
liable to tax due to changes in the law. At this time John Scott also
gave up his exclusive right to appoint trustees; the trustees would
henceforth appoint new members themselves. Five months after the
signing of the new Trust Deed, John Scott died. After three years of
legal argument, the
The eight initial trustees of the 1948 Trust were all connected with the Manchester Guardian and Evening News, Ltd., and included four of C. P. Scott's grandsons as well as the then editor of the Guardian, A. P. Wadsworth . It has become normal practice for a Guardian journalist to be a member of the trust, though he or she is not considered to be a "representative" of the staff, as this may result in a conflict of interests.
In 1992, the Trust identified its central objective as being the following: "To secure the financial and editorial independence of The Guardian in perpetuity: as a quality national newspaper without party affiliation; remaining faithful to its liberal tradition; as a profit-seeking enterprise managed in an efficient and cost-effective manner."
The Trust saw its main functions as being the following:
* "To secure the Trust's own continuity by renewing its membership
and by dealing with threats to its existence
* To monitor the organisation, financial management and overall
strategy of the Group, holding the Board accountable for its
* To appoint and 'in extreme circumstances' to dismiss the editors
of The Guardian, the
Manchester Evening News
THE SCOTT TRUST LIMITED: 2008–PRESENT
In October 2008 it was announced that the trust was being wound up and its assets transferred to a new limited company named "The Scott Trust Limited" to strengthen the protection it offers to the Guardian and because ike all non-charitable trusts, and unlike limited companies, the Scott Trust has a finite lifespan. The core purpose of the Trust was enshrined in the constitution of the Limited company and "cannot be altered or amended." The new company is barred from paying dividends, and "its constitution has been carefully drafted to ensure that no individual can ever personally benefit from the arrangements."
In February 2010, the company announced the sale of its GMG Regional
Media arm and its regional print titles to the
Guardian News and Media, a subsidiary of the Scott Trust Limited, reported a loss of £30.9 million for the year to the end of April 2013.
The company via the
Guardian Media Group (GMG, a subsidiary company)
completed the sale for £619 million of its 50.1% stake in Auto Trader
on 4 March 2014.
In December 2014, it was announced that
As of January 2016 the company's funds were £740m, down from £838.3m in July 2015.
THE SCOTT TRUST BOARD
NAME JOINED POSITION
Alex Graham January 2013 Chair of the Scott Trust Board (2016 – present)
Katharine Viner June 2015 Editor-in-chief, Guardian News and Media (June 2015 – present)
David Pemsel June 2015 Chief executive officer, Guardian Media Group (June 2015 – present)
Emily Bell January 2013
Catherine Howarth 2015
Stuart Proffitt 2015
Anthony Salz 2009
Russell Scott 2015
Ole Jacob Sunde 2015
Nils Pratley 2016 Journalist director of the Scott Trust Board (2016 – present)
Liz Forgan Chair of the Scott Trust (2003 – 2016)
Hugo Young Chair of the Scott Trust (1989 – 2003)
Philip Mark Tranter Company Secretary (2012 – 2017)
THE SCOTT TRUST FOUNDATION
Besides the GMG businesses, the company has a charitable wing, the Scott Trust Foundation, and oversees the Guardian's archive and education centre.
* ^ Jackson, Jasper (2016-09-22). "Alex Graham appointed as seventh
chair of the Scott Trust". The Guardian. ISSN 0261-3077 . Retrieved
* ^ A B "The Scott Trust board". The Guardian. 2015-07-26. ISSN
0261-3077 . Retrieved 2017-02-28.
* ^ A B Ellis, Gavin (2014). Trust Ownership and the Future of
News: Media Moguls and White Knights. London: Palgrave Macmillan. pp.
157–58. ISBN 9781137369437 .
* ^ "Guardian-owning Scott Trust to fold after 72 years – Press
* ^ A B "Guardian \'secure for generations to come\' after tax-free
bonanza of £619m from Auto Trader sale", ,
Press Gazette , 4 March
* ^ theguardian.com: "
* The Scott Trust information