6 the CABLE | ISSUE 06 for Journalists afterLocal World offeredan byon Chartered the democracy” Institute Montgomeryhas seen of an accused “attack by contributors”. third-party This practice sourcing and promoting “content produced as content managers, responsible for staff, he the outlined new role journalistsof approach. In anotorious letter sent to all restructuring papers the and editorial their Montgomery took on task of the Early inhis tenure as chief executive, competitors. country, acquiring titles from numerous onebecame of largest the publishers inthe World from scratch. The venture rapidly as CEO of Trinity Mirror to found Local In 2012,David Montgomeryposition lefthis gathered past inthe three years. pace ominousfurther transformations have repeated cuts deep to editorial staff, and profits. The decadefirst the2000s of saw by previous owners keen to maintain high Bristol’s daily only hasn’t local spared been Editorial erosion information produce. they organisations and, down line, the on the have an impact on structures the of media and ensuing decisions made by directors The sweeping concentration of ownership landscape media itsgive local the value. journalism andthe independence that a long and complex process that deplete Such profit-driven acquisitions are part of market. groups, it dominates media 70%of local the publishing sector. With two other media largest owner of UK’s inthe media local 247 publications intotal, it’s now single the unmatched financial heavyweight andwith influencebecomes overwhelming. It’s an With takeover, this Trinity Mirror’s unnoticed. importancethe of such change may go UK’sthe sector. media local For many, of aphenomenon rippling through web publications, is latest the symptom T and over 100other print and World, owner of Bristol the Post Trinity Mirror to acquire Local by newspaper corporation recentlyhe £220m deal signed Trinity Mirror, theBristol Post and theerosion of localmedia Destination unknown: Journalists (NUJ)branch chair. Paul Breeden, Bristol National Union of couldscandals go unreported,” warns on subject areas means that, potentially, of journalists and decline the inexpertise threatensThis democracy. local “The lack happened on our patch.” could afford to…that everything report days stated: “The are long gonewhen we ground. A2015memo from Trinity Mirror desk-bound and less able to report on the and inprint. Journalists have become more given morebeen prominence online both content and shameless advertorials have also In Post the and elsewhere, sponsored press releases. unfiltered gatewaypolice the to to publish and invest development. indigital As in explicit annual intheir reports: cut costs World and Trinity Mirror’s response is made While they’re turning still profits, Local publishers’ traditional business model. of tumbling revenues, withering local Worldand Local merely continues years and advertising income for Trinity Mirror it in faces.The 2014fall print circulation Fox “structural the has called pressures” Trinity Mirror’s chief executive Simon The industry’s direction is dictated whatby Shrinking print members voted for action. strike individual audience-reach targets after NUJ Mirror recently dropping proposals to set have challenged with mindset, Trinity this and generate income. Some journalists audience traffic, widen advertising visibility meansbecome aprimary to increase presented on apar. content Online has and news commercial see who information platforms creates confusion for readers Meanwhile, intrusive advertising on web having to change up to 80%of headlines. leading editors at some titles to complain of from communities the they’re read by – stories are often sub-edited in‘hubs’ far make for formulaic while media, local management incentralised devised offices operations. Carbon-copy website designs to have increasingly little ‘local’ about their WorldLocal and its competitors tend also Taking the ‘local’ outof , and the journalismoutof our media DESIGN WORDS

LAURENCE WARE

ALEC SAELENS hoping that future pans out. and important questions,” she says. Here’s able media, to local askbalanced awkward a well-resourced and proudly independent, “Everyone sidewouldfrom benefit on every it’s everbeen. to power truth inourspeak city is as great as pointschair Zaba Christina out, to need the lost its But, pertinence. as NUJBristol vice- Bristol asked for and helped to create,” has Today Post’s the old motto, paper all “The of Bristol the Times and Echo. with another baron media to closure led the major publication city inthe after adeal empire.media It had becomesingle the Evening World, of part Lord Rothermere’s publication that could challenge Bristol the by lay people showed popularity the of a investmentsLarge-scale shares insmall Post. and directors became of what is now the business founded and sector society civil representatives of across-section of Bristol’s contesting amonopoly on ownership, media improved democracy. local In 1932, shows how people coming together has A quick at look Bristol’s history media media local Redefining democratic engagement. representation of and ideas associated the sources of information, providing areliable with value the papers of as popular local out, large publishers show little concern journalismAs is gradually hollowed local daily by paper.are alocal directly served out government of 406local areas, only 131 by Media the Reform shows Coalition that startups. The effects are apredictable: study newspapers since 2012,againstlocal only 11 World have overseen shutdown the of 25 Trinity them, Between Mirror and Local earlier year. inthe savingsraised targets of £20mannounced make £12mcuts within two years, on top of made public, its TM asserted intention to Withexpenses. World Local the acquisition to increase profit by stripping down core other market-based industries, seek firms IN COMPARISON: share holders share Accounts are regularly members: All equal published online 540 Also operatesfrom offshore jurisdictions misrepresenting stakesin50ofcountry’s ROYAL ASSET Trinity Mirror Employees’Benefit Trust. Fiduciary andadministrationtrusteeof Multinational investmentmanagement. World’s largest assetmanager-$4.5tn in Jersey, Bermuda,IsleofMan,BVI, MANAGEMENT (UK) MANAGEMENT Given record €3.25mfineby German largest companies(March 2015) (Jersey) LIMITED financial authoritiesforyearsof BLACKROCK INC BLACKROCK APPLEBY TRUST What itsaysonthetin… Guernsey R in R d R inf R peo GB 1 GB 555754 ebat GB 2 GB 384610 v 3% ogr esti 4% 5% pl 37 1 e 42 2 e history aphi gati 30 17 on 30 36 cs 0 6 Local World and Trinity Mirror, the company behind A lookat the ownership structure of track records? treated as afinancial asset by firms sometimeswith questionable Can we deny impact the on quality the of our when news as justmedia another investment. paper, likes the of Schroder, JPMorgan and Blackrock your see From financial the marketspages the to you in read your local Mirror, are business inthe of assetand investment management. topthe nine companies, hold who 59%of shares the inTrinity Surprise, surprise. Aglance up ownership the shows ladder MANAGERS LTDMANAGERS PREMIER FUND 41% othershareholders - information notavailable O Asset management w n e

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