4 ms·
I think they are actually receiving the funds. It is worded quite ambiguously, but I think what it actually means is that they receive GBP25-30 million a year
by ddeck 7y ago
I think they are actually receiving the funds.
It is worded quite ambiguously, but I think what it actually means is that they receive GBP25-30 million a year from the Scott Trust, which they use for expenses and capital costs.
The article on the same topic in the Guardian itself a couple of day ago states:
"Guardian News & Media is owned by the wider Guardian Media Group, which in turn is controlled by the not-for-profit Scott Trust, named after the newspaper’s former proprietors.
The Scott Trust endowment, built up through the sale of former assets such as AutoTrader, produces an annual return of between £25m and £30m without depleting the main investment, which it allows to be spent by Guardian Media Group to subsidise ongoing operations."
https://www.theguardian.com/media/2019/may/01/guardian-breaks-even-helped-by-success-of-supporter-strategy https://www.theguardian.com/media/2019/may/01/guardian-break...
- arcticfox 7y agoPutting the money in an endowment is shockingly foresighted. I almost feel like good journalism needs that type of support going forward, and it seems the Guardian gave it to themselves. (The alternative would be inviting in people like Bezos, but that has the potential of strings attached.)