Press Gazette's main shareholder is reviewing his ownership of the
business, citing a lack of support from the national newspaper industry
for one of its significant revenue streams, the British Press Awards.
Freud, who bought the title with Piers Morgan in June last year and has
been funding it since then, is frustrated that his own association with
the business is hampering a consensus agreement from the major national
publishers to support the awards. At least one influential editor is
known to dislike the fact that the magazine is owned by a PR man.
year's British Press Awards was boycotted by Associated Newspapers and the Telegraph Group despite Press Gazette implementing all the suggested changes to
the way it was run.
Former Press Gazette editor Philippa
Kennedy is behind an alternative proposal for next year's awards, on
behalf of the London Press Club and the Journalists Charity, made to a
group of industry executives some weeks ago.
Having indicated he
is no longer prepared to fund the title long term, Freud's review could
result in the search for a buyer for Press Gazette Limited.
If he sells, it will mean the fifth owner of the title in little more than a