Johnston Press: Administration Debate
Full Debate: Read Full DebateDepartment: Department for Digital, Culture, Media & Sport
Alex Sobel
Main Page: Alex Sobel (Labour (Co-op) - Leeds North West)Department Debates - View all Alex Sobel's debates with the Department for Digital, Culture, Media & Sport
(5 years, 5 months ago)
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Jeremy Wright
As I have said, I think that we need to look carefully at the balance between the elements that the hon. Gentleman has mentioned. It is undoubtedly part of the structural challenge that we have been discussing this afternoon, and I do not believe that we can come up with the appropriate structural answer unless we have considered those elements properly.
Alex Sobel (Leeds North West) (Lab/Co-op)
There are three Johnston Press titles in my constituency—
Alex Sobel
Thanks. One of those papers, The Yorkshire Post, is vital to our campaign for One Yorkshire devolution. Without The Yorkshire Post, we would not have been able to bring forward a diverse set of parties.
On 14 October, in The Observer, Roy Greenslade produced a devastating critique of the way in which what has happened to Johnston Press came to pass. When the banks failed, they were deemed to be too big to fail. Now the same thing has happened. When Johnston Press ceased to be a family firm, huge acquisitions were made based on debt. Will the Secretary of State be looking at future acquisitions, whether they are debt-backed or not, and will he be looking into the media industries?
Jeremy Wright
I think we must be concerned with all similar transactions in this space, because that is important for the reasons that we have given. The hon. Gentleman will understand why—as I have already said—I will not comment specifically on the way in which this transaction has been conducted.