As the first black consortium bids for TML, a charter is suddenly being drafted to safeguard editors and to preserve traditions in the group. Jacquie Golding-Duffy reports
THE editors of Times Media Limited’s (TML) core publications say they do not fear losing their jobs under a new black stakeholder. However, on the eve of the first serious bid by a black consortium, an editorial charter is hastily being finalised.
Johnnic chief executive and chairman of both TML and Omni Media, Vaughn Bray, says there is a sense within the company that a charter would be an appropriate means of preserving the traditions within TML. “With Anglo American having been the custodian of newspaper publications for about 50 years, there is a sense that they would want their traditions preserved,” he says.
The charter is “merely a concept at the moment and nothing has been brought to the table”, but the idea has been around for some time. Should the charter materialise it will be presented to the TML board of executives for confirmation. The board may then, at its discretion, pass the charter on to Johnnic.
A draft version of the charter, under which the editorial independence of TML’s publications would be safeguarded, was submitted to Bray early this week, according to TML executive director and Financial Mail editor Nigel Bruce.
Bruce says he was requested by Bray to devise a draft. Although he was not instructed to canvass opinion among editors within the stable, he recommended the draft be circulated among various parties within the group to gather opinions on it. He has chosen to draw from the charters of various publications abroad, including Australia.
Bruce says he cannot disclose details of the charter as it first has to be approved by TML board members and then passed on to TML’s parent company — Johnnic — for scrutiny.
Bruce says the charter is not being drafted as a defence mechanism by editors within TML; but rather to “preserve the traditions, integrity and independence” of the various publications within the group.
“This charter is being drafted because it will give editors the peace of mind and comfort of knowing that editorial integrity and the traditions of their respective publications will be preserved,” he says.
Chairman of the Black Editors Forum, Thami Mazwai, says the decision by TML to establish an editorial charter confirms that some editors are desperate to cling to the past of white ownership.
“It’s not surprising to see some of the editors in the group scrambling to finalise a charter when before they did not see the need to have one under Anglo American. All of a sudden it is a matter of urgency,” he says.
Bruce denies the charter has been hastily compiled and says it is not being driven by fear at the prospect of a black consortium controlling TML.
He is adamant that the Financial Mail will continue to be as critical of government and its “lack of economic policy” as it has always been, even if New Africa Investment Limited (Nail), headed by Nthato Motlana, secures all or part of Anglo American’s 48% stake in Johnnic.
“If anything, we will become more critical, and I do suspect they [Nail] will have the good sense not to interfere or attempt to dismiss editors. If I am dismissed it will be because I am critical of government and the people responsible for my dismissal will have to face the international and commercial consequences,” Bruce says.
Nail and the National Empowerment Consortium (NEC) are the main contenders for Anglo American’s 48% Johnnic stake. But although both consortiums are bidding, there are ongoing merger talks between the two to formulate a joint bid for the Johnnic stake, valued at R4-billion. Althouth African National Congress secretary general Cyril Ramaphosa is Nail’s new executive deputy chairman, it is uncertain whether he will represent both consortiums under a single bid. The incorporation of Nail into the NEC is, however, the most favoured option.
Nail and the NEC’s business interests will put up half the funds for the 48% stake, while labour unions such as the National Union of Mineworkers and others will supply the rest of the money, drawing from union pension funds and membership fees.
Nail, which already controls the Sowetan, has previously said it is particularly interested in Johnnic’s 43,2% in Omni Media, which owns TML.
TML managing director Roy Paulson says the new owners of TML would have to honour the charter. It is his view that an alliance with a black grouping could only be good for TML in the new spirit of black empowerment in South Africa.
Business Day editor Jim Jones says he believes the daily finance newspaper will go from strength to strength. “Any owner, I believe, would want to see the newspaper continue to be successful and will manage it in such a manner,” he says, adding that he has no fears of losing his job.
The Sunday Times editor-designate Brian Pottinger says he is “looking forward to editing the Sunday Times under a new owner”.
Although he feels it is too early to speculate on what the future holds under a new stakeholder, Pottinger says the critical issue for the new owners should be the quality of the publication and the type of service the newspaper offers. Pottinger will become fully fledged editor of the Sunday Times from July 1.
The charter, he says, should be widely canvassed within the stable before being implemented.
Editor of Out There magazine Monica Graaff says “it might not be a bad idea” to draw up a charter to ensure that the press’s independence is protected. “It hasn’t been necessary to have a written charter until now because newspaper establishments have abided by an unwritten charter. With newcomers entering into TML, it is a good idea to have one for the future,” she said.