Let’s hope Standpoint magazine is able to stand without the full support of its major backer. The Right-wing publication, which launched in 2008 to great fanfare as a counterpoint to Left-wing magazine Prospect, is heading into choppy financial waters after shipping millionaire Alan Bekhor decided to cut back on his funding of the periodical.
Bekhor, who runs the British Marine group, was one of Standpoint’s founding supporters — even allowing its editorial staff to set up their office in the basement of the British Marine building in Marylebone's Manchester Square. The magazine also has a dazzling range of luminaries on its board including David Hockney, Sir Tom Stoppard, Frank Field and Sir Vidia Naipaul.
Edited by Daniel Johnson, son of Paul Johnson, the magazine’s mission was to celebrate Western civilisation, art and its values. But Western civilisation is going through a rough patch at the moment.
This year, according to the Sunday Times Rich List, Bekhor is estimated to have lost a third of his fortune, dropping dramatically from £110 million to £70 million. As a result, the shipping magnate is now scaling back the level of support he can offer the magazine.
Bekhor was not available for comment but Michael Mosbacher, Standpoint’s managing editor, stoically points out: “We’ve always had more than one backer — and now we’re looking for more.”
