View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

  1. Comment
August 6, 2014

Crowd-funding campaign wants to buy Times and Sunday Times for £50m

By Press Gazette

An organisation called Let’s Own The News is attempting to purchase The Times and Sunday Times with money from crowd funding.

LOTN, which is backed by the Young Foundation, plans to offer News UK £50m for the titles, and is aiming to raise a further £50m to run the papers.

According to its website, 42 supporters have so far pledged £67,830.

Laurie Fitzjohn, founder of the campaign, believes that the current state of the press – in which “five families control 80 per cent of national newspapers we read” – “isn’t a free press and… undermines our democracy”.

He said: “A crowd acquisition of The Times and The Sunday Times would be an important and achievable step in reducing the power of the press barons.”

Simon Willis, chief executive of the Young Foundation, said: “We’re backing this campaign because we want to tackle powerful incumbent institutions and groups that perpetuate inequality. It’s fundamentally undemocratic that such immense power lies with such a small group who can use their influence to shape public opinion in a way that suits them. The media provides an important and constructive function in society, and we hope that this innovative challenge will pique public interest, promote debate, and ultimately disrupt the disproportionate ownership of the UK’s press by a handful of people.”

Content from our partners
MHP Group's 30 To Watch awards for young journalists open for entries
How PA Media is helping newspapers make the digital transition
Publishing on the open web is broken, how generative AI could help fix it

Topics in this article : ,

Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network