1936–1948 by
Francis Dodd The Trust was established in 1936 by
John Russell Scott, owner of the
Manchester Guardian (as it then was) and the
Manchester Evening News. After the deaths in quick succession of his father
C. P. Scott and brother
Edward, and consequent threat of
death duties, John Scott wished to prevent future
death duties forcing the closure or sale of the newspapers, and to protect the liberal editorial line of the
Guardian from interference by future proprietors. The first and only chairman of the first Trust was John Scott.
1948–2008 The Trust was dissolved and reformed in 1948, as it was thought that the Trust, under the terms of the original trust deed, had become liable to tax due to changes in the law. At this time John Scott also gave up his exclusive right to appoint
trustees; the trustees would henceforth appoint new members themselves. Five months after the signing of the new trust deed, John Scott died. After three years of legal argument, the
Inland Revenue gave up its claim for death duty. The eight initial trustees of the 1948 Trust were all connected with the Manchester Guardian and Evening News, Ltd., and included four of C. P. Scott's grandsons as well as the then editor of
The Guardian,
A. P. Wadsworth. It has become normal practice for a
Guardian journalist to be a member of the trust, though they are not considered to be a "representative" of the staff, as this may result in a conflict of interests. In 1992, the Trust identified its central objective: :"To secure the financial and editorial independence of
The Guardian in perpetuity: as a quality national newspaper without party affiliation; remaining faithful to its liberal tradition; as a profit-seeking enterprise managed in an efficient and cost-effective manner." The second Trust had five Chairmen over its 60 years:
Alfred Powell Wadsworth (1948–56),
Richard Farquhar Scott (1956–84),
Alastair Hetherington (1984–89),
Hugo Young (1990–2003) and
Liz Forgan (2003-2008).
The Scott Trust Limited: 2008–present In October 2008, it was announced that the trust was being wound up and its assets transferred to a new limited company named "The Scott Trust Limited" to
strengthen the protection it offers to the Guardian and because
[l]ike all non-charitable trusts, and unlike limited companies, the Scott Trust has a finite lifespan. In February 2010, the company announced the sale of its GMG Regional Media arm and its regional print titles to the
Trinity Mirror Group. The regional titles comprised the
Manchester Evening News and 31 others in the North West and South of England. The sale was finalised on 28 March 2010 and ended the Scott Trust's association with regional newspapers. In 2012 the Scott Trust Limited became a co-founder of the
European Press Prize. Guardian News and Media, a subsidiary of the Scott Trust Limited, reported a loss of £30.9 million for the year to the end of April 2013. As of 1 April 2018, the value of the Scott Trust Endowment Fund was £1.01 billion, down slightly from £1.03 billion in 2017. In November 2024, Jonathan Paine was appointed to the board of the Scott Trust. Paine is a former managing director and senior adviser at Rothschild & Co. In early December 2024, the company announced the sale of
The Observer to Tortoise Media. Two weeks later the company confirmed the deal, and that it had taken a stock position in the purchaser. == Governance ==