Money and media domination

• CONGRATULATIONS to Richard Osley for uncovering the fact that Camden Council pension fund holds around £300,000 in BSkyB shares (Camden’s stake in BSkyB, July 8).

Echoing the words of the Church of England and Lord Puttnam, the overriding need of the citizen requires that we should not allow the media to be dominated by just a few companies. 

We need plurality and diversity for a robust democracy. 

Interesting to hear that Labour councillors are seeking to see if BSkyB shares can be sold because of their concerns about News Corporation’s threatened takeover of the company. 

We agree that the council should disinvest in BSkyB shares but only if they are taken over by News Corporation. At the moment, we do not want the price to fall to make this takeover cheaper.  

The council should also adopt a far more ethical approach to investment and it’s such a pity that most councillors of the three larger parties did not support the Green Party’s request to the pensions sub-committee back in 2007 for an ethical investment policy that built on previous policy in relation to investment in South Africa. 

We specifically called for ending investment in companies that engaged in the unscrupulous and highly unethical arms trade, (many arms companies are presently profiting in the repression of emerging democracies, for example). 

This should, of course, be extended to halt investment in companies that have such a stranglehold on our media. 

Greens asked the council to take on board the social costs of war in making such investment decisions as well as fundamental values, and in this case of potential over-reaching media power we now ask for the impact on our democracy to be taken on board. 

News Corporation has shown itself to be a thoroughly unfit and improper organisation and clearly not fit to take over full control of BSkyB.

Consequently the council should make no contribution to such a discredited organisation as News Corporation.

CLLR MAYA DE SOUZA 
Green Party, Highgate ward

Published: 14 July, 2011