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.