The conventional wisdom among most of the candidates who want to succeed Ed Miliband as Labour leader is that he just wasn’t business-friendly enough. What can that phrase mean? Even the candidates themselves seem hard-pressed to know how friendly the party needed to be and to what kind of business. Are there to be limits? Blairite precedent suggests not, especially when the business is the media. Let the witness here be Richard Desmond, who by November 2000 had made enough money from specialist periodicals, pornography and OK! magazine to buy Express Newspapers for £125m; or, to be more exact, enough assets to secure a loan from Commerzbank in Frankfurt that enabled the purchase.
Related: Richard Desmond: ‘I hate to admit this, but I’ve never actually hit anyone’
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