Media regulator announces new five-year funding settlement

The press regulator has announced a new funding settlement which protects its funding in real terms for the next five years.

The Independent Press Standards Organisation (Ipso) is financed by the Regulatory Funding Company, which is funded by member publications through subscription payments.

Ipso, which is marking 10 years as the UK’s independent regulator of newspapers, magazines and digital news, said the five-year settlement also allows it to call on additional resource if needed for exceptional costs.

It has also reached an agreement with regulated publishers to amend its regulations, giving it greater discretion to allocate resources to the most important complaints.

This will be achieved by reducing the burden of dealing with complaints that do not identify a potential breach of the Editors’ Code, Ipso said.

Lord Faulks KC, Ipso’s chairman, said: “Ten years from its foundation, regulation by Ipso is a clear mark of accountable journalism that distinguishes publishers committed to accountability and transparency from unregulated online content.

“We are delighted to celebrate this milestone, working with our partners – including the public, industry, government and others – to protect the public and freedom of expression by promoting high standards.”