DOCSLIB.ORG

Guardian Media Group GMG Has Been the Pioneer of Local TV in the UK, Having Launched Channel M, a Vibrant TV Channel for Manchester, Back in 2000

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Guardian Media Group GMG Has Been the Pioneer of Local TV in the UK, Having Launched Channel M, a Vibrant TV Channel for Manchester, Back in 2000 1 Executive summary 1.1 Introduction GMG is pleased with the emphasis that Ofcom has attributed to local TV as part of its DDR consultation. For GMG, local TV plays a central role in delivering the strategy of the Group on two key dimensions: • Realising the vision of creating a “digital bridge” between traditional media assets (e.g. print, radio) and new media assets (e.g. broadband video, online publishing, internet advertising) • Fulfilling the mission of GMG by using our resources to benefit the wider community and serve the public interest via long term investments in commercial media ventures and technology innovation For these reasons, GMG’s principal objectives in this consultation response are to: • Highlight the commercial and social value that local TV could deliver, and describe the market leadership role that GMG could play • Illustrate our concerns for the risks of market failure implicit in the proposed approach to allocate the DDR spectrum • Propose potential remedies to mitigate such risks 1.2 The value of commercial local TV and the role of Guardian Media Group GMG has been the pioneer of local TV in the UK, having launched Channel M, a vibrant TV channel for Manchester, back in 2000. The past seven years of experience in the field have given GMG the confidence that the local TV media carries significant potential to deliver commercial and social value. Specifically, we see the following benefits emerging from commercially funded local TV businesses such as Channel M: • Providing a truly local editorial proposition with clear appeal for the mass audience o Channel M provides an exciting mix of local news, local sports coverage, local entertainment and lifestyle programming, delivered via low cost access and a FTA commercial model o In excess of 300,000 viewers per week watch Channel M regularly, out of a technically addressable audience of just over 1.1 million o Over 60% of viewers agree that Channel M is an important source of news and information about their community, and that it makes them feel part of their local environment • Offering a new and cost effective media for SME businesses to promote their products and services and compete against the large multinational brands o Local TV combines the cost effectiveness of print and radio with the rich media power of the TV advertising channel o SMEs can leverage local TV to strengthen their relative competitive position against the large multinational brands who are the traditional buyers of TV advertising campaigns at the national level • Optimising the use of public resources, since a commercially sustainable model would negate the need for the BBC to divert licence fee payers’ funds into the local TV sector GMG believes that the local TV model could be replicated across the country to fulfil its important role, being the “digital bridge” between traditional media and new, broadband-based media. The unique governance structure of GMG makes us well placed to deliver on the key dimensions of social value and long term investment strategy. The benefits of Scott Trust ownership manifest themselves in a number of ways, but perhaps most strikingly in the stability it affords to the Group. Because the Trust does not take dividends or demand substantial year-on-year increases in profitability, as many other owners would, it enables GMG to take a much longer view on investment decisions. The result is that the Group is able to pursue a long-term vision rather than react to the short-term demands of shareholders. This in turn creates an environment that actively encourages innovation. No other company continued to invest in digital through the dotcom crash – Guardian Unlimited is the UK’s most popular newspaper website as a result. No other company would have invested in Channel M – applying the highest standards of news-gathering and journalism to a city TV station format. 1.3 The economic sustainability of local TV In spite of the highly encouraging response from the market (e.g. audience, communities, advertisers), the economic sustainability of a pure commercially-funded local TV model like Channel M is fragile. The absence of a standardised audience measurement system such as BARB implies that the local TV media “trades at a discount” compared to its real potential. The value of a 30-second advertising slot is more aligned with that of an equivalent radio slot, rather than with the proportionate value of a national TV slot. Besides this inherent weakness, GMG’s business planning and forecast analysis for Channel M indicate that two additional conditions can dictate the commercial viability of its local TV business: 1. The ability to address 100% of the entire population available in a given conurbation 2. The avoidance of turbulence arising from public funded local TV models, such as BBC Local In particular, we see the following risks in local TV: • The first condition, 100% audience reach, relies on the accessibility of a local TV channel from the most popular TV distribution platforms, e.g. Digital Terrestrial Broadcasting and Digital Satellite o while other platforms such as cable and IPTV will develop further under the push of Virgin Media and BT, the analysts predict a continued marginal role for these technologies over the next 5 years o under this scenario, our simulations indicate that if the analogue spectrum currently assigned to Channel M is not replaced by digital spectrum after the DSO, the business plan would become very marginal in NPV terms • The second condition, avoidance of turbulence from BBC Local, is the direct consequence of the inevitable audience fragmentation that would arise for the local TV media o audience fragmentation would otherwise lead to reduced “yield” for the local media buyers and to lower advertising revenues – in the face of a largely fixed cost base o GMG's business plan assumes local TV market leadership, and it would become NPV-negative if BBC Local were to compete If the above conditions are guaranteed, GMG’s business plan simulations would provide high confidence on the commercial sustainability of the local TV model. The Channel M “template” could be replicated in other parts of the country, by GMG or other organisations. If interleaved spectrum were made available for local TV consistently across the UK, either directly awarded to broadcasters or as a “must offer” obligation, the opportunity would emerge to create a national federated network. This would enable economies of scale and scope in parts of the supply chain, and create revenue synergies by offering a new one-stop-shop for media buyers. 1.4 Implications for the DDR framework We note that even in the most optimistic scenario, local TV, be it at city level or as a national federated network, while delivering substantial citizen value, in commercial terms is relatively small compared to alternative sectors such as mobile and national broadcasting. Therefore, a market-led approach to the award of spectrum would, with all probability, lead to a market failure for local TV. In the optimal scenario to pre-empt market failure, Ofcom would allocate a portion of the DDR spectrum to the exclusive use of local TV services, thus avoiding uneven competition with players from high margin sectors such as the mobile operators. In a context where Ofcom decided to opt for an entirely free market approach, GMG recommends adopting a number of risk mitigating principles towards the interleaved spectrum: • Recognise the high citizen value provided by local TV, by creating a framework that enables local TV broadcasters to become “users” of interleaved spectrum, as a second best alternative to being “owners” • Define a packaging of spectrum to reflect the existence of addressable local audiences rather than the current location of individual transmitters • Create a spectrum award process that avoids “defensive purchases” of sub-optimal spectrum by cash rich bidders (e.g. impose the obligation to bid for no more than one spectrum band for a given application) • Award the interleaved spectrum early enough to allow an effective handling of the transition from analogue to digital for the channels that are already in operation (e.g. Channel M would lose its analogue spectrum during 2009) • Provide explicit reassurance that the BBC would not be allowed to roll out local TV as this would severely impair any commercial case for local TV • Avoid disadvantaging the weaker commercial players by providing detailed technical information such as geographic coverage levels and household reach achievable using interleaved spectrum 1.5 Conclusion In summary, we would like to express how positive we are about the local TV opportunity. We are proud to be pioneers of local TV, and pleased with the success of Channel M in demonstrating the social value that local TV brings to a community, and in showing how local TV‘s potential as a commercially run business. In short, local TV is important to GMG for a number of reasons: it is in keeping with our community-focussed mission and values, it has the potential to be an attractive new business, and it is of strategic importance to us as part of our transition from traditional media to new media, in the light of pressures in the regional press market. However, there are external factors beyond our control which have serious ramifications on the viability of the local TV business: the availability of appropriate interleaved spectrum to broadcast local TV, and the shadow of BBC Local. The choice of a specific DDR framework, and decisions over the role of the BBC in the local TV market, would have a significant impact in deciding the future of local TV. .
Load more

Recommended publications
  • Commercial Realities Will Look Like in a Few Years Time
    Responsible advertising Advertising policy The Guardian, Observer and Guardian Unlimited raise a substantial proportion of their income from advertising. Percentage of readers who Every effort is made to ensure the adverts we carry adhere to the rulings of the think we have a responsibility to refuse to carry the following types Advertising Standards Authority (ASA). Any advert that has had a complaint of advertising? upheld by the ASA will not run in our newspapers. COMMERCIAL Music with offensive lyrics 54% Before the advertising department takes any advert, it always checks (eg. homophobic or 44 the copy to ensure it doesn’t jar with our values — that it is legal, decent and racist material) 43 truthful. If it feels the copy is unsuitable, it asks for it to be amended. 39 That we received complaints about only 32 adverts, out of a total of more Gambling 36 than 15,000, shows that our system is working effectively. No single advert REALITIES 36 received more than 10 complaints. Readers usually focus their attention on adverts that offend a strongly 36 held but often not a widely shared belief. A recent example was an advert Religious 35 Priorities: to increase profitability by the following: 40 we carried for formula milk, which received two complaints. This subject is fraught with controversy and is also tightly regulated, and in this instance the 42 ad conformed to all the guidelines. In a case like this, we write to the reader 1) Continue to publish innovative and distinctive Advertising using sexual imagery 34 concerned and explain why we made the decision to carry the ad, and also why 34 we disagree with them, while respecting their right to a differing opinion.
    [Show full text]
  • Guidelines the Guardian’S Editorial Code
    Guidelines The Guardian’s Editorial Code February 2003 Guidelines The Guardian’s Editorial Code 1 Contents Contents 2 Summary 2 1: Professional practice 3 2: Personal behaviour and conflicts of interest 5 3: Appendices 8 3.1: The PCC Code of Conduct 8 3.2: CP Scott’s essay 11 3.3: Areas of interest and companies that GMG holds 13 Summary “A newspaper’s primary office is the gathering of news. At the peril of its soul it must see that the supply is not tainted.” The most important currency of the Guardian is trust. This is as true today as when CP Scott marked the centenary of the founding of the paper with his famous essay on journalism in 1921. The purpose of this code is, above all, to protect and foster the bond of trust between the paper and its readers, and therefore to protect the integrity of the paper and of the editorial content it carries. As a set of guidelines, this will not form part of a journalist’s contract of employment, nor will it form part, for either editorial management or journalists, of disciplinary, promotional or recruitment procedures. However, by observing the code, journalists working for the Guardian will be protecting not only the paper but also the independence, standing and reputation of themselves and their colleagues. It is important that freelances working for the Guardian also abide by these guidelines while on assignment for the paper. Press Complaints Commission Code of Conduct The Guardian — in common with most other papers in Britain — considers the PCC’s Code of Conduct to be a sound statement of ethical behaviour for journalists.
    [Show full text]
  • Codes Used in D&M
    CODES USED IN D&M - MCPS A DISTRIBUTIONS D&M Code D&M Name Category Further details Source Type Code Source Type Name Z98 UK/Ireland Commercial International 2 20 South African (SAMRO) General & Broadcasting (TV only) International 3 Overseas 21 Australian (APRA) General & Broadcasting International 3 Overseas 36 USA (BMI) General & Broadcasting International 3 Overseas 38 USA (SESAC) Broadcasting International 3 Overseas 39 USA (ASCAP) General & Broadcasting International 3 Overseas 47 Japanese (JASRAC) General & Broadcasting International 3 Overseas 48 Israeli (ACUM) General & Broadcasting International 3 Overseas 048M Norway (NCB) International 3 Overseas 049M Algeria (ONDA) International 3 Overseas 58 Bulgarian (MUSICAUTOR) General & Broadcasting International 3 Overseas 62 Russian (RAO) General & Broadcasting International 3 Overseas 74 Austrian (AKM) General & Broadcasting International 3 Overseas 75 Belgian (SABAM) General & Broadcasting International 3 Overseas 79 Hungarian (ARTISJUS) General & Broadcasting International 3 Overseas 80 Danish (KODA) General & Broadcasting International 3 Overseas 81 Netherlands (BUMA) General & Broadcasting International 3 Overseas 83 Finnish (TEOSTO) General & Broadcasting International 3 Overseas 84 French (SACEM) General & Broadcasting International 3 Overseas 85 German (GEMA) General & Broadcasting International 3 Overseas 86 Hong Kong (CASH) General & Broadcasting International 3 Overseas 87 Italian (SIAE) General & Broadcasting International 3 Overseas 88 Mexican (SACM) General & Broadcasting
    [Show full text]
  • Guardian Media Group Plc Annual Report and Accounts 2009 Securing the Long-Term Future of the Guardian GMG Annual Report 2009
    Guardian Media Group plc Annual Report and Accounts 2009 Securing the long-term future of the Guardian GMG Annual Report 2009 Contents 01 Introduction 32 Corporate responsibility 02 Group structure 36 Financial review 03 Financial highlights 42 Corporate governance 04 Statement from the chair 47 Report of the directors 07 Chief executive’s review of operations 49 Directors’ remuneration report 08 Introduction 53 Independent auditors’ report 09 Guardian News & Media 54 Profit and loss account 12 GMG Regional Media 54 Statement of recognised income 15 GMG Radio and expense 17 GMG Property Services 55 Balance sheet 19 Trader Media Group 56 Cash flow statement 22 Emap 57 Notes relating to the financial statements 25 Outlook 87 Group five year review 26 Board of directors 89 Company financial statements of Guardian 28 Statement from the chair of the Scott Trust Media Group plc 30 The Scott Trust directors 99 Advisers GMG Annual Report 2009 Securing the long-term future of the Guardian Guardian Media Group (GMG) is one of the UK’s leading multimedia businesses. The diverse portfolio includes national and regional newspapers, websites, magazines, radio stations and business-to-business media. Our flagship is the Guardian newspaper and website. The Group is wholly owned by the Scott Trust, which exists to secure the ongoing editorial independence of the Guardian. Under this unique form of media ownership the Group is able to take a long-term view as it invests in the future and security of the Guardian’s independent, liberal journalism. www.gmgplc.co.uk
    [Show full text]
  • Local and Regional Media in the UK: Nations and Regions Case Studies Local and Regional Media in the UK: Annex 2
    Local and regional media in the UK: Nations and Regions case studies Local and Regional Media in the UK: Annex 2 Annex Publication date: 22 September 2009 Contents Section Page 1 Local regional and nations media maps and tables 1 2 Case studies for the local and regional media landscape in England 17 3 The local, regional and nations media landscape in Wales 27 4 The local, regional and nations media landscape in Scotland 30 5 The local, regional and nations media landscape in Northern Ireland 34 Nations and Regions case studies Section 1 1 Local regional and nations media maps and tables Introduction 1.1 This annex to Local and Regional Media in the UK provides further detail to the discussion of the local and regional media in Section 3 of the main report. It examines the local, regional and nations media landscape in selected locations around the UK through a series of case studies conducted in spring 2009. We place these case studies within a wider context by the inclusion of maps and table showing the availability of different local media across the UK. 1.2 Given the heterogeneity and complexity of the local and regional media landscape across the UK it is not possible to carry out a detailed analysis of the local and regional media landscape in all locations throughout the UK. We have therefore based our approach around case studies in eight locations to present an indicative view as to the local media landscape in different parts of the UK. The locations were selected to provide a range of population sizes and included a location in each of the nations.
    [Show full text]
  • Local Media Final Document
    Response to the Secretary of State (Culture, Olympics, Media and Sport): Local Media – cross media ownership rules Publication date: 9 August 2010 1 Summary In November 2009, after public consultation, we reported to the Secretary of State (Culture, Media and Sport) on our review of the media ownership rules, as required by statute. One of our recommendations was to significantly liberalise the local cross media ownership rules. Government now intends to implement this liberalisation. Once this liberalisation is implemented the only prohibition on local cross media ownership will be that one person cannot own in a local radio coverage area: a local analogue radio licence; and a regional Channel 3 licence whose potential audience includes at least 50% of that radio station’s potential audience; and one or more local newspapers which have a local market share of 50% or more in the coverage area (“the Remaining Rule”). The Secretary of State (Culture, Olympics, Media and Sport) has now asked Ofcom to look at the feasibility and implications of removing the Remaining Rule. The Secretary of State is required by statute to consult with us before making any changes to the media ownership rules which Ofcom has not already recommended. In considering this request, we have updated our evidence for changes since our November 2009 recommendation. In summary, there are two relevant developments. Firstly, the evidence shows a significant deterioration in the revenues available for local / regional newspapers between 2008 and 2009, accompanied by continued structural pressure on television and radio as the internet increases its share in a total advertising market that has been under pressure from broader economic circumstances.
    [Show full text]
  • Final Impact Assessment
    Title: Impact Assessment (IA) Local TV: Implementing a new framework IA No: DCMS005 Lead department or agency: DCMS Date: 28/06/2011 Other departments or agencies: Stage: Final Ofcom, HMT, BBC Source of intervention: Domestic Type of measure: Secondary legislation Contact for enquiries: Ruth John - 020 7211 6977 [email protected] Summary: Intervention and Options What is the problem under consideration? Why is government intervention necessary? Research (see para 34) shows high demand from audiences for local news and content, some of which is available through newspapers, radio and online. However, the UK market has been unable to support sustainable commercially viable local TV, as it is hampered by market barriers with limited regulatory incentives. Despite television being the media platform with the greatest household use, these barriers limit commercial opportunities for local TV to develop. Government can incentivise the market and encourage growth by tackling the barriers to entry and creating a framework for local TV services to emerge that will bring wider economic, social, cultural and democratic benefits. Local TV will have a vital role to play in the localism agenda, in holding local institutions to account and increasing civic engagement at a local level. What are the policy objectives and the intended effects? In line with the Coalition Agreement, Government is committed to enabling local TV to emerge in the UK. The Government will create a regulatory framework to enable and support commercially sustainable local TV as part of the wider growth agenda. This will not be an imposition on existing broadcasters or create new regulatory burdens.
    [Show full text]
  • Broadcast Bulletin Issue Number 158 24/05/10
    O fcom Broadcast Bulletin Issue number 158 24 May 2010 1 Ofcom Broadcast Bulletin, Issue 158 24 May2010 Contents Introduction 5 Note to Broadcasters Provider of a broadcasting service 6 Standards cases In Breach Bang Babes Tease Me: 25 January 2010, 21:00, and 27 January 2010, 21:30 Tease Me 2: 10 February 2010, 21:00 7 Tease Me: Earlybird Tease Me TV (Freeview), 25 January 2010, 07:15 12 Tease Me: Earlybird Tease Me TV (Freeview), 15 February 2010, 05:30 16 Special Message AT, 17 September 2009, 20:39 19 CNN YouTube Debate on Climate Change CNN International, 16 December 2009, 20:00 22 Wedi 7 S4C, 1 March 2010, 19:00 27 Asiana Bridal Show 2010 Sunrise TV, 21 February 2010, 20:00 29 Resolved (Celebrity) Big Brother’s Big Mouth E4, 29 January 2010, 23:05 31 Advertising scheduling cases In Breach Advertising minutage Kix!, Pop, Pop Girl, Tiny Pop, True Entertainment, True Movies, True Movies 2, various dates and times 35 Advertising minutage Film 24, 1 to 14 March 2010, various dates and times 37 2 Ofcom Broadcast Bulletin, Issue 158 24 May 2010 Advertising minutage ESPN, 17 February 2010, 20:00, 19 February 2010, 16:00, 24 February 2010, 20:00, 26 February 2010, 06:00, and 28 February 2010, 15:00 ESPN Classic, 27 February 2010, 00:00 38 Advertising minutage Zing, 15 March 2010, 14:00, 15 March 2010, 15:00, 16 March 2010, 14:00 and 17 March 2010, 15:00 40 Advertising minutage More 4, 3 March 2010, 00:00 Channel 4 and S4C, 20 February 2010, 13:00 41 Advertising minutage Horse & Country TV, 2 March 2010, 21:00 and 8 March 2010, 21:00 43 Advertising
    [Show full text]
  • Regional and Local Television in the United Kingdom
    Snapshot: regional and local television in the United Kingdom Deirdre Kevin European Audiovisual Observatory 2015 1 Table of Contents About the brief 2 Summary 2 1 Introduction 4 1.1 Nations and regions in the United Kingdom 4 2 Overview of the UK television landscape 6 2.1 BBC remit: regional and local news and services 6 2.2 The BBC and the UK regions 7 2.2.1 BBC Northern Ireland 9 2.2.2 BBC Scotland 9 2.2.3 BBC ALBA 10 2.2.4 BBC Wales 10 2.3 S4C 11 2.4 Channel 3 licensees: ITV, UTV, STV 12 2.4.2 STV - Scottish Television 15 2.4.3 UTV - Ulster Television 15 2.5 News and programming obligations for Channel 3 16 2.6 The new local DTT channels 17 2.6.2 Estuary TV 18 2.6.3 London Live 19 2.6.4 Mustard TV 19 2.6.5 Notts TV 19 2.6.6 STV Glasgow and STV Edinburgh 19 2.6.7 Bay TV Liverpool 20 2.6.8 Latest TV 20 2.6.9 Made in Television: Bristol, Cardiff, Leeds, and Tyne and Wear 20 2.6.10 NVTV 21 2.6.11 Sheffield Live! 21 2.6.12 That’s Solent 21 2.6.13 Big Centre TV 21 European Audiovisual Observatory 2.6.14 Other channels 21 3 Audiences: channels and news 23 3.1 Audiences in the UK regions and nations 23 3.2 Audiences for other regional channels 24 3.2.1 S4C 24 3.2.2 BBC ALBA 24 3.2.3 Regional audiences for specific foreign channels 25 3.3 Local TV audiences 25 3.4 Online viewing data 26 3.5 News audiences 27 3.5.1 News and current affairs 27 3.6 Programmes about Europe 28 Sources: 30 European Audiovisual Observatory About the brief This brief was prepared by the European Audiovisual Observatory for the European Commission, DG COMM and DG REGIO in September 2014.
    [Show full text]
  • Gordon Cheung
    Gordon Cheung Born 1975 London– lives and works in London | http://www.gordoncheung.com Education 1999-2001 Royal College of Art - MA Fine Art Painting 1995-1998 Central Saint Martins College of Art and Design - BA(Hons) Fine Art in Painting Solo Exhibitions 2010 Altered States, Arizona State University Museum, USA (curated by Heather Lineberry/) 2009 Gordon Cheung, ROOM Gallery, London The Four Horsemen of the Apocalypse, The New Art Gallery Walsall, Walsall UK The Promised Land, Jack Shainman Gallery New York Volta NY, Solo presentation with Unosunove Gallery and Galerie Adler 2008 Wilderness of Mirrors, Galerie Adler, Frankfurt, Germany Death By a Thousand Cuts, Chinese Arts Centre, Manchester The Fall of the Rebel Angels, Alan Cristea Gallery, London Gordon Cheung, Kirkby Gallery, Liverpool, UK 2007 God is on Our Side, Unosunove Gallery, Rome Italy (curated by Raffaella Guidobono) Paradise Lost, Laing Art Solo Commission, Newcastle (selected by Susan May) The 1000 Yard Stare, Aspex Gallery, Portsmouth UK Gordon Cheung – Recent Paintings, Djanogly Gallery, Nottingham, UK 2006 Heart of Darkness, Thomas Cohn Gallery, Sao Paulo, Brazil (cat.) 2003 Hollow Sunsets, Houldsworth Gallery, London 2002 Sprawl, DomoBaal Gallery, London Selected Exhibitions 2009 The Future Can Wait, Truman Brewery, London – Curated by Ellis Rumley Productions Gordon Cheung and Jonathan Seliger, Nassau Museum of Art, New York PS: Parsing Spirituality, Affirmation Arts, New York City, USA Curated by Micaela Giovannotti Projections, Carré d'Art - Museum of Contemporary
    [Show full text]
  • Annual Report
    Guardian Media Group Guardian Media Group The Guardian & The Observer Guardian MediaGroupplc Registered Office Head Office 119 Farringdon Road Guardian Media Group plc Annual Report and Accounts 2006 164 Deansgate 75 Farringdon Road London EC1R 3ER Manchester M3 3GG London EC1M 3JY Tel: 020 7278 2332 Tel: 0161 832 7200 Tel: 020 7239 9711 www.gmgplc.co.uk Learnthings Greater Manchester Newspapers Surrey Advertiser and 119 Farringdon Road 164 Deansgate Berkshire Newspapers London EC1R 3ER Manchester M3 3GG Stoke Mill Tel: 020 7713 4050 Tel: 0161 832 7200 Woking Road Guildford Trader Media GMG Radio Surrey GU1 1QA 6 Thatcham Business Village Sterling Court Tel: 01483 508700 Colthrop Lane Capitol Park Thatcham Leeds WF3 1EL Berkshire RG19 4LW Tel: 0113 238 1114 Tel: 01635 588500 Annual ReportandAccounts2006 www.gmgplc.co.uk Company number 94531 1 Introduction Guardian Media Group plc is a UK media 2 Guardian Media Group plc operational structure business with interests in national newspapers, 3 Chairman’s statement 5 Chief Executive’s review of operations regional newspapers, magazines, radio 12 Guardian Media Group plc Board of directors 14 The Scott Trust and internet businesses. The Company is 16 Corporate social responsibility 22 Financial review wholly-owned by the Scott Trust. 24 Corporate governance 28 Report of the directors 30 Directors’ remuneration report 33 Independent auditors’ report The Scott Trust was created in 1936 to 34 Profit and loss account 34 Statement of recognised secure the financial and editorial income and expense 35 Balance sheet 36 Cash flow statement independence of the Guardian in perpetuity. 37 Notes relating to the 2006 financial statements 70 Group five year review Financial highlights 71 Separate financial statements of Guardian Media Group plc The financial highlights for 2006 and 2005 have been drawn up in accordance with 84 Advisers International Financial Reporting Standards (IFRS).
    [Show full text]
  • Downloads/Bfi-Statistical-Yearbook-2011.Pdf.> “Communications Act 2003.” London: the National 3
    City Research Online City, University of London Institutional Repository Citation: Iosifidis, P. (2016). Media Ownership and Concentration in the United Kingdom. In: Noam, E. (Ed.), Who Owns the World's Media?: Media Concentration and Ownership around the World. (pp. 425-452). Oxford: OUP. ISBN 9780199987238 This is the accepted version of the paper. This version of the publication may differ from the final published version. Permanent repository link: https://openaccess.city.ac.uk/id/eprint/6036/ Link to published version: http://dx.doi.org/10.1093/acprof:oso/9780199987238.001.0001 Copyright: City Research Online aims to make research outputs of City, University of London available to a wider audience. Copyright and Moral Rights remain with the author(s) and/or copyright holders. URLs from City Research Online may be freely distributed and linked to. Reuse: Copies of full items can be used for personal research or study, educational, or not-for-profit purposes without prior permission or charge. Provided that the authors, title and full bibliographic details are credited, a hyperlink and/or URL is given for the original metadata page and the content is not changed in any way. City Research Online: http://openaccess.city.ac.uk/ [email protected] OUP-FIRST UNCORRECTED PROOF, January 7, 2015 16 Media Ownership and Concentration in the United Kingdom PETROS IOSiFiDiS INTRODUCTION Excessive media concentration in the United Kingdom is a public concern since it can endan- At a time when media companies are becoming ger media pluralism and diversity. For these major actors in international commerce, and reasons the United Kingdom has introduced when cable, satellite, and digital platforms are media ownership rules to preserve economic increasingly globalizing media markets, ques- goals (open competition) and social aims (plu- tions about the possible effects of media concen- ralism and diversity).
    [Show full text]