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by gjm11
4619 days ago
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The Guardian is owned by Guardian Media Group plc, which is a UK public limited company headquartered in London. GMG plc is owned by The Scott Trust Ltd., another UK public limited company. So far as I can tell, it is not true that the Guardian is owned by a holding company offshore in the Caymans, nor that the Guardian is owned by a company that pays no tax. (Except that GMG has made a loss in many recent years and therefore paid no corporation tax. So far as I can tell, these are genuine losses and it seems reasonable not to pay corporation tax if you are not making a profit.) It does appear that in 2008 the Guardian Media Group bought a magazine company called Emap, and set up a company in the Caymans as part of some (allegedly quite standard) scheme to avoid some of the stamp duty they'd otherwise have paid in the acquisition. Maybe that's dodgy or maybe it's just standard operating procedure (in which case something is dodgy but it might not be in any useful sense GMG's fault), but it's a very different matter from what you claimed. I am in any case unable to follow your logic at one key point. Let's suppose for the sake of argument that the Guardian is owned by a tax-avoiding holding company. What exactly is the connection between that and the statement that "left and right is pretty meaningless these days"? (Full disclosure: I read newspapers seldom but the Guardian less seldom than others. I do not work in law, the media, or the civil service, I do not have a PR agency or any mates who are spin doctors, and I would hazard a guess that my pay is within a factor of two of yours one way or the other. So far as I know, I have no financial or professional interest in the success of the Guardian or its allied companies.) |
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GMG is selling a product. They (the owners, editors, writers) no more believe it than at McDonald's corporate HQ they live on cheeseburgers for every meal.