584:
chair of the Scott Trust. Having been appointed in late 2014 to occupy one of the most powerful roles within
Guardian Media Group this September, The Guardian's former editor had encountered fierce opposition. By Thursday evening, it looked inevitable. Although a meeting of the Scott Trust board had broken up without being able to decide on his future, enough of its members, including Katharine Viner, his successor as Guardian editor, and David Pemsel, GMG's chief executive, did not want him back as chair. He could either concede or trigger a damaging public battle."
1303:
50:(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,
216:. 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."
316:
must guard editorial independence. The board appoints itself under article 63, through an appointments committee. Neither workers at the newspapers nor readers participate in voting for board members. Such voting could be allowed with 75% approval of the existing board of directors under article 7.
68:
The Scott Trust is a limited partner in GMG Ventures LP, founded in 2017, according to the GMG 2018 annual report, "this £42m venture capital fund is designed to contribute financial returns and to support GMG’s strategy by investing in early stage businesses focused on developing the next generation
583:
was due to become the chair of the Scott Trust. This was blocked by fellow members of the
Guardian Media Group, Viner and Pemsel. Rusbridger had been scapegoated for the company losses. The Irish Times reported at the time: "In the end, Alan Rusbridger had little choice but to resile from becoming
120:
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
1071:
256:
adds to the £253.7 million of cash and investments which GMG published in its 2013 annual report. This leaves an investment fund which is likely to be in excess of £850 million to underwrite
151:
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."
128:
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
1327:
1347:
702:
1337:
1053:
1130:
229:
and 31 others in the North West and South of
England. The sale was finalised on 28 March 2010 and ended the Scott Trust's association with regional newspapers.
821:
140:
journalist to be a member of the trust, though they are not considered to be a "representative" of the staff, as this may result in a conflict of interests.
208:
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
271:
editor-in-chief, would succeed Forgan as the chairman of the company in 2016 but he unexpectedly announced on 13 May 2016 his resignation as a director.
1025:
915:
108:, John Scott wished to prevent future death duties forcing the closure or sale of the newspapers, and to protect the liberal editorial line of the
280:
In 2023, following independent academic research commissioned in 2020 reporting, the trust apologised for the newspaper's founders involvement in
239:
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.
602:
252:, a venture capital firm, increased its share to become the sole shareholder in the business. The £619 million earned from the sale of
65:, Guardian legal affairs correspondent Haroon Siddique who is the journalist director of the board, and one member of the Scott family.
1123:
162:
To monitor the organisation, financial management and overall strategy of the Group, holding the Board accountable for its performance
1017:
844:
732:
301:
242:
The company via the
Guardian Media Group (GMG, a subsidiary company) completed the sale for £619 million of its 50.1% stake in
121:
members themselves. Five months after the signing of the new Trust Deed, John Scott died. After three years of legal argument, the
277:
As of 1 April 2018, the value of the Scott Trust
Endowment Fund was £1.01 billion, down slightly from £1.03 billion in 2017.
105:
555:
Besides the GMG businesses, the company has a charitable wing: The
Guardian Foundation led by Executive Director Kelly Walls.
1039:
1342:
1307:
1116:
1280:
180:
To act as a 'court of appeal' in the event of any dispute between the editorial and managerial sides of the operation."
896:
775:
219:
In
February 2010, the company announced the sale of its GMG Regional Media arm and its regional print titles to the
638:
965:
940:
822:"Guardian 'secure for generations to come' after tax-free bonanza of £619 million from Auto Trader sale"
748:
159:"To secure the Trust's own continuity by renewing its membership and by dealing with threats to its existence
305:
274:
As of January 2016, the company's funds were £740 million, down from £838.3 million in July 2015.
225:
185:
92:
39:
as well as various other media businesses in the UK. In 2008, it replaced the Scott Trust, which had owned
479:
189:
58:
671:
511:
1332:
193:
112:
from interference by future proprietors. The first and only chairman of the first Trust was John Scott.
1204:
1139:
999:
439:
404:
233:
24:
1170:
285:
101:
214:
ike all non-charitable trusts, and unlike limited companies, the Scott Trust has a finite lifespan
1290:
1259:
1199:
313:
281:
83:
1099:
728:
646:
610:
244:
1103:
1003:
944:
568:
416:
355:
309:
264:
133:
62:
51:
793:
284:
principally through the cotton trade. It announced a £10 million ten-year programme of
220:
122:
1321:
779:
388:
300:, and adopted its current name on 3 October 2008; its number is 06706464 and it is a
249:
1194:
1177:
1163:
973:
676:
579:
573:
537:
35:
29:
703:"Guardian Media Group plc (GMG) results for the financial year ended 1 April 2018"
1285:
1275:
1209:
97:
57:
The current chairman of the Scott Trust Board is Ole Jacob Sunde, who replaced
1092:
897:"Guardian Media Group to cut 250 jobs in bid to break even within three years"
501:
489:
197:
650:
614:
1254:
1231:
1072:
Why Alan Rusbridger had no choice but to quit The Guardian – The Irish Times
1054:"The Guardian Foundation appoints Kelly Walls as its new executive director"
143:
In 1992, the Trust identified its central objective as being the following:
941:"Company overview for the Scott Trust Limited on Companies House website"
873:
869:
916:"Guardian owner apologises for founders' links to transatlantic slavery"
524:
Chief executive office, Guardian Media Group (June 2015 - January 2020)
1108:
725:
Trust Ownership and the Future of News: Media Moguls and White Knights
447:
Journalist director of the Scott Trust Limited board (2022 – present)
165:
To appoint and 'in extreme circumstances' to dismiss the editors of
542:
Journalist director of the Scott Trust Limited board (2016 – 2022)
61:
in 2021. Other board members include the current editor-in-chief
1112:
363:
Editor-in-chief, Guardian News and Media (June 2015 – present)
296:
Scott Trust Limited was incorporated on 24 September 2008 as
870:"Former Guardian editor Alan Rusbridger leaves Scott Trust"
845:"Alan Rusbridger to stand down as Guardian editor-in-chief"
603:"Alex Graham appointed as seventh chair of the Scott Trust"
232:
In 2012 the Scott Trust Limited became a co-founder of the
350:
Chairman of the Scott Trust Limited board (2021–present)
155:
The Trust saw its main functions as being the following:
46:
The company is responsible for appointing the editor of
1020:
THE GUARDIAN FOUNDATION, registered charity no. 1153865
304:. The Scott Trust Limited is governed according to the
147:"To secure the financial and editorial independence of
184:
The second Trust had five Chairmen over its 60 years:
484:
Chair of the Scott Trust Limited board (2016 – 2021)
96:. After the deaths in quick succession of his father
776:"Guardian-owning Scott Trust to fold after 72 years"
1268:
1247:
1222:
1187:
1155:
1146:
210:
strengthen the protection it offers to the Guardian
994:
992:
966:"THE SCOTT TRUST LIMITED: Corporate governance"
727:. London: Palgrave Macmillan. pp. 157–58.
1124:
697:
695:
8:
496:Chair of Scott Trust Limited (2008 – 2016)
1328:Publishing companies of the United Kingdom
1152:
1131:
1117:
1109:
1000:"THE SCOTT TRUST LIMITED - Filing history"
54:, held the position from 1995 until 2015.
1348:1936 establishments in the United Kingdom
1338:Publishing companies established in 1936
1026:Charity Commission for England and Wales
532:Director, (September 2011 - March 2016)
467:
329:
263:In December 2014, it was announced that
16:British multinational mass media company
816:
814:
718:
716:
633:
631:
593:
506:Chair of the Scott Trust (1989 – 2003)
571:, the long-serving editor-in-chief of
494:Chair of the Scott Trust (2003 – 2008)
136:. It has become normal practice for a
601:Jackson, Jasper (22 September 2016).
396:Historian, had also been writing for
204:The Scott Trust Limited: 2008–present
82:The Trust was established in 1936 by
7:
223:. The regional titles comprised the
843:Jane Martinson (10 December 2014).
774:Dominic Ponsford (8 October 2008).
564:The Resignation of Alan Rusbridger
125:gave up its claim for death duty.
14:
895:Martinson, Jane (17 March 2016).
23:is the British company that owns
1302:
1301:
516:Company Secretary (2012 – 2017)
914:Mohdin, Aamna (28 March 2023).
749:"Scott Trust updates structure"
308:, set up in 2008 and filed at
177:after its acquisition in 1993)
1:
824:. Press Gazette. 4 March 2014
1281:Guardian Student Media Award
672:"About Guardian Media Group"
434:Senior Independent Director
312:. The articles say that the
200:(1990–2003) and Liz Forgan.
104:, and consequent threat of
1364:
1299:
1040:"The Guardian Foundation"
302:company limited by shares
90:(as it then was) and the
1240:Seven Publishing (41.9%)
1237:Development Hell (29.5%)
298:Scott Place 1001 Limited
639:"The Scott Trust board"
551:The Guardian Foundation
306:articles of association
226:Manchester Evening News
186:Alfred Powell Wadsworth
171:Manchester Evening News
93:Manchester Evening News
190:Richard Farquhar Scott
69:of media technology".
723:Ellis, Gavin (2014).
321:The Scott Trust Board
282:transatlantic slavery
194:Alastair Hetherington
1343:Guardian Media Group
1205:Guardian New Zealand
1140:Guardian Media Group
798:European Press Prize
234:European Press Prize
221:Trinity Mirror Group
25:Guardian Media Group
1171:The Guardian Weekly
512:Philip Mark Tranter
378:Dr Margaret Simons
286:restorative justice
88:Manchester Guardian
21:Scott Trust Limited
1291:John Edward Taylor
1260:Trader Media Group
1223:Joint ventures and
1200:Guardian Australia
1060:. 19 October 2019.
314:board of directors
84:John Russell Scott
1315:
1314:
1218:
1217:
1100:Corporate details
546:
545:
461:
460:
248:on 4 March 2014.
1355:
1305:
1304:
1153:
1147:Subsidiaries and
1133:
1126:
1119:
1110:
1096:
1095:
1093:Official website
1078:
1068:
1062:
1061:
1050:
1044:
1043:
1036:
1030:
1029:
1014:
1008:
1007:
996:
987:
986:
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956:
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829:
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809:
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804:
790:
784:
783:
771:
765:
764:
762:
760:
755:. 8 October 2008
745:
739:
738:
720:
711:
710:
699:
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689:
687:
685:
668:
662:
661:
659:
657:
645:. 26 July 2015.
635:
626:
625:
623:
621:
598:
529:Heather Stewart
468:
344:Ole Jacob Sunde
330:
1363:
1362:
1358:
1357:
1356:
1354:
1353:
1352:
1318:
1317:
1316:
1311:
1295:
1264:
1248:Former holdings
1243:
1224:
1214:
1183:
1148:
1142:
1137:
1104:Companies House
1091:
1090:
1087:
1082:
1081:
1069:
1065:
1052:
1051:
1047:
1038:
1037:
1033:
1016:
1015:
1011:
1004:Companies House
998:
997:
990:
980:
978:
968:
964:
963:
959:
949:
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945:Companies House
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868:
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827:
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819:
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787:
773:
772:
768:
758:
756:
747:
746:
742:
735:
722:
721:
714:
709:. 24 July 2018.
701:
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683:
681:
670:
669:
665:
655:
653:
637:
636:
629:
619:
617:
600:
599:
595:
590:
569:Alan Rusbridger
566:
561:
553:
495:
466:
440:Haroon Siddique
417:Vivian Schiller
405:Stuart Proffitt
368:Tracy Corrigan
356:Katharine Viner
328:
326:Current members
323:
310:Companies House
294:
265:Alan Rusbridger
206:
134:A. P. Wadsworth
118:
86:, owner of the
80:
75:
63:Katharine Viner
52:Alan Rusbridger
17:
12:
11:
5:
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1076:irishtimes.com
1063:
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988:
977:. 23 July 2018
957:
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906:
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861:
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691:
680:. 24 July 2018
663:
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452:Matthew Ryder
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436:
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432:
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428:Russell Scott
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123:Inland Revenue
117:
114:
79:
76:
74:
71:
15:
13:
10:
9:
6:
4:
3:
2:
1360:
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1225:shareholdings
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1201:
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876:. 13 May 2016
875:
871:
865:
862:
850:
846:
839:
836:
823:
817:
815:
811:
799:
795:
789:
786:
781:
780:Press Gazette
777:
770:
767:
754:
750:
744:
741:
736:
734:9781137369437
730:
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563:
559:Controversies
558:
556:
550:
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541:
539:
536:
535:
531:
528:
527:
523:
521:David Pemsel
520:
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389:David Olusoga
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250:Apax Partners
247:
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55:
53:
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44:
42:
38:
37:
32:
31:
26:
22:
1333:The Guardian
1306:
1195:Guardian.com
1178:The Observer
1176:
1169:
1164:The Guardian
1162:
1075:
1066:
1058:The Guardian
1057:
1048:
1034:
1019:
1012:
979:. Retrieved
974:The Guardian
972:
960:
948:. Retrieved
935:
923:. Retrieved
920:The Guardian
919:
909:
901:The Guardian
900:
890:
878:. Retrieved
864:
852:. Retrieved
849:The Guardian
848:
838:
826:. Retrieved
801:. Retrieved
797:
788:
769:
757:. Retrieved
753:The Guardian
752:
743:
724:
707:The Guardian
706:
682:. Retrieved
677:The Guardian
675:
666:
654:. Retrieved
643:The Guardian
642:
618:. Retrieved
607:The Guardian
606:
596:
580:The Observer
578:
574:The Guardian
572:
567:
554:
547:
538:Nils Pratley
464:Past members
398:The Guardian
397:
297:
295:
279:
276:
273:
268:
262:
257:
253:
243:
241:
238:
231:
224:
218:
213:
212:and because
209:
207:
183:
175:The Observer
174:
170:
167:The Guardian
166:
154:
149:The Guardian
148:
142:
137:
129:
127:
119:
109:
106:death duties
100:and brother
91:
87:
81:
67:
56:
48:The Guardian
47:
45:
43:since 1936.
41:The Guardian
40:
36:The Observer
34:
30:The Guardian
28:
20:
18:
1286:Scott Trust
1276:C. P. Scott
1210:Guardian US
656:28 February
620:28 February
480:Alex Graham
254:Auto Trader
245:Auto Trader
196:(1984–89),
192:(1956–84),
188:(1948–56),
98:C. P. Scott
59:Alex Graham
1322:Categories
1156:Newspapers
588:References
502:Hugo Young
490:Liz Forgan
393:June 2018
360:June 2015
292:Governance
198:Hugo Young
1255:GMG Radio
1232:Ascential
1149:divisions
803:23 August
794:"Members"
651:0261-3077
615:0261-3077
474:Position
339:Position
116:1948–2008
78:1936–1948
27:and thus
1308:Category
1085:External
981:5 August
950:29 March
925:28 March
874:BBC News
269:Guardian
260:losses.
258:Guardian
138:Guardian
130:Guardian
110:Guardian
880:29 July
854:29 July
828:29 July
759:29 July
684:25 June
336:Joined
267:, then
73:History
731:
649:
613:
169:, the
102:Edward
1269:Other
1234:(50%)
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