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Oxford University is to set up a Reuters Institute for the Study of Journalism, which will study how the media operates rather than offer degrees. It will be funded by ?1.75 million from the media company Reuters. The institute has the support of John Lloyd, a Financial Times journalist and longstanding critic of the UK media, and of Timothy Garton Ash, a commentator for The Guardian . Tim Gardam, principal of St Anne's College, Oxford, and formerly with Channel 4, chairs the steering committee.