Under new ownership!
From the April 2024 edition onwards, Wendover News is being published by a new company, called Wendover Community News CIC. The CIC stands for Community Interest Company, indicating it is owned by the community it serves. It took over publication from Wendover News Ltd in a very amicable process. The aim was to allow Jane Larkham, the publisher and editor for over 35 years, to retire and continue to do what she enjoys – but as a volunteer.
Why a new company?
Jane’s company was a normal commercial company, limited by shares. It has been very successful for a long time, but never recovered from the financial problems caused during lockdown. By using all residual funds left in the company, Jane sought to ensure the future of the company. The most appropriate way of doing this was to transition it to a community interest company, limited by guarantee.
Who controls the company and gets all the profits?
Unlike a limited company, where there are shareholders, the equivalent role is held by trustees. Shareholders usually expect to be paid money from the profits, whereas trustees of the CIC can’t take any money out for being a trustee. Wendover Community News CIC is run to serve the community, not to make profit.
Where is the head office?
Wendover News no longer has an office. This makes it a little difficult when we want to hold team meetings, but we get by. One of the reasons that we don’t need an office is that we don’t really have any assets. No filing cabinets, no furniture, no office machinery. No physical assets apart from historic archive material accumulated during the first 35 years of the magazine. Volunteers use their own devices to communicate, participate in discussions, write content and take photos.
Who controls the content?
We are regulated by IMPRESS, the media regulator. Its Standards Code provides guidance on producing high quality journalism, without limiting freedom of expression. It also ensures trustworthy news content and protection from unethical news practices. As a CIC, we are also legally obliged to be politically neutral. You can see the Standards Code at www.impressorg.com/standards/.
What’s its purpose?
The obvious part is that we have committed to publishing the print version for the foreseeable future. More broadly, we see ourselves as the communications hub for the Wendover area, to enable the people and community organisations to collaborate for the benefit of everybody. By offering a range of opportunities for engagement, we intend to make volunteering with us a constructive, enjoyable, and rewarding experience.
Who’s on the team?
It’s a very big team of over 60 people. The majority of those are deliverers. Busy people who find the role rewarding and like the excuse to get some exercise. Some of them only really socialise with one or two of the other volunteers, but many come along to our regular get togethers for the opportunity to meet other deliverers and chat.
The other part of the team are the core volunteers. They tend to run the company’s operations and so have invested a lot of commitment to getting the business running and making it resilient. Many of these are managers and professionals – some retired, some still with busy careers and a few who can’t make their mind up yet.