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Weekly editor calls for ‘media bank’ to help newspapers

The editor of an independently-owned weekly newspaper in North London has revived the debate over public funding of the local press by calling for a ‘media bank.’

Eric Gordon, who started the Camden New Journal in 1982 with a £50,000 government-backed loan, called for intervention to help the industry at a House of Lords committee looking into the future of journalism.

“There should be some sort of government assistance, preferably, in one form or another, a media bank to help newspapers,” he told the communications select committee.

“I know this might be an unpopular viewpoint and I don’t believe in government ownership. But there should be some sort of government intervention. Without it, I do fear for the future of local papers.”

Eric also claimed that too many local newspaper titles were in the hands of a small number of publishing groups.

“When you get the intrusion of distant, monopolistic companies, you lose a local touch,” he told the committee.

He said the rival Hampstead and Highgate Express, now owned by Archant, had declined from a circulation of 21,000 when the New Journal was launched in 1982 to around 5,000 now.

“That’s because of the nature of its ownership and the difficulty of selling a local paper when you have the emergence of good-quality – I’m bound to say it of our paper – free papers,” he added.

Eric was giving evidence alongside Martin Trepte, from the Maidenhead Advertiser, which is run by a charitable trust.

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  • November 4, 2011 at 1:54 pm
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    Haha – nothing like sticking the knife in, is there eh?

    Poor old Ham and High Express.

    But is Mr Gordon saying a Government “media bank” should be used to prop up the Express after its obviously fearful pasting by the Journal, or is he angling for another loan himself?

    We should be told.

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