The Folkestone Herald and its sister papers around the country changed hands late last year and a large chunk was bought by the Trinity Mirror Group. Part of the paper is still owned by Local world. So who now owns the Herald?
Folkestone Herald – Local World – Trinity Mirror
Well, Surprise, surprise. A glance up the ownership ladder shows the top nine companies, who hold 59% of the shares in Trinity Mirror, are in the business of asset and investment management.
From the financial markets to the pages you read in your local paper, the likes of Schroder, JP Morgan and Blackrock see your media as just another investment.
Can we deny the impact on the quality of our news when treated as a financial asset by firms with sometimes questionable track records?
3% Royal London Asset Management (UK) – Asset Management
4% Appleby Trust (Jersey) Ltd – Fiduciary & Administration trustee of Trinity Mirror Employees’ Benefit Trust, Also operates from offshores in Jersey, Bermuda, Isle ofMan, British Virgin Islands & Guernsey.
5% Blackrock Inc Multinational Investment Management. Worlds largest asset manager – $4.5 trillion. Given Record fine €3.25m euros by German Financial Authorities for years of misrepresenting stakes in 50 of country’s largest companies (March 2015)
16% Schroders PLC – British Multinational Asset Management Company. Swiss subsidary Schroder & Co Bank AG fined in tax evasion scandal (Sept 2015)
11% Aviva PLC (Morley Fund Management) – Multinational Insurance. Fined £17.5m for failure to manage conflict of interests at expense of customers (Feb 2015)
5% JP Morgan Asset Management (UK) Ltd – Investment Management. Sister Company JP Morgan Securities PLC paid no UK Tax despite $2.6billion profits (2014)
5% Standard Life Investments Ltd – Investment Management
5% Aberforth Partners LLP – Investment Management
5% Premier Fund Managers Ltd – Investment Management
41% Other shareholders – information not available
Hat tip BC for the Info