In January, The Financial Times (FT) broke the story of the Presidents Club dinner. This went on to dominate the UK news and gain global reach, becoming the most read story ever on FT.com. The exposé of a black-tie, men-only fundraising event jolted London’s business and political circles, becoming a focal point for public outrage over sexual harassment and the objectification of women. For the FT’s legal team, particularly its editorial lawyer Nigel Hanson, the story raised significant legal issues, including questions of defamation, privacy, confidence and data protection, advising on the enforceability of a non-disclosure agreement that the undercover reporter was required to sign without being given a chance to read its contents, the application of provisions of charities law, statutory reporting restrictions covering anonymity for victims of alleged sexual offences, and ethical issues such as the use of subterfuge and undercover reporters. GC Dan Guildford says the process highlights how integral the FT’s legal team is to its editorial decision making. ‘It is important that we have lawyers who are genuinely passionate about the FT product and believe in its principles. We all care about high-quality, impactful journalism and are prepared to work hard to ensure it gets delivered. The team is helping to create and maintain the legal and contractual framework that supports our subscription models, and ensuring that our journalism avoids the twin risks of excessive and insufficient caution.’ The team has also been involved in a number of important ‘open justice’ challenges to facilitate press reporting of the courts, including leading a group of five media organisations in successfully challenging an arrangement where the former head of the Financial Services Authority would otherwise have given evidence in private in the Lloyds Bank shareholder litigation. The legal team’s contribution to the FT was highlighted by a long list of nominations from private practice. Ian Gruselle of Bristows says the team works in ‘an environment that is constantly moving, with legal issues developing 24 hours a day. The clarity of thought, and the ability to understand how the legal issues impact on the business and its commercial objectives, make this an outstanding, and an outstandingly led, in-house team.’ Aside from supporting the FT’s journalism, the team has advised on transactions including the acquisition of Longitude Research, a provider of thought-leadership research, the acquisition of Silicon Valley technology company GIS Planning and the sale of the New York Institute of Finance, comprising businesses in the US and China. Guildford and assistant GC John Halton have helped to develop opportunities for growth following the FT’s acquisition by Japan’s largest media company, Nikkei. In 2017, the parties formed two joint-venture businesses, Nikkei FT Learning and scoutAsia. Other projects with Nikkei include the digital transformation of English-language publication Nikkei Asian Review and the development of a new website for The Nikkei newspaper. Nicole Livesey of Pinsent Masons comments: ‘The FT’s business is fairly unusual and complex, operating in a fastmoving environment, which is facing ongoing digital disruption. The team’s experience is broad and deep enough to cover all bases, and the team is integral in identifying new revenue streams and business opportunities for the FT, particularly digital opportunities.’ Following the Nikkei acquisition, the team has also taken on its first Asia-based lawyers, hiring counsel in both Beijing and Hong Kong. Closer to home, it has sought to manage costs by introducing a Belfast-based nearshoring operation, comprising Cher Wright, Sinead Hanna, Conn Burns and Mark Agnew. Guildford concludes: ‘It is a team full of outstanding lawyers who work well together. They are respected by and involved in the business, and are a hugely important aspect of the brand’s enduring strength.’