There’s been an outbreak of jingoistic fervour among media luvvies following yesterday’s announcement that Japan’s Nikkei bought the FT for £844 million.

First there was a glorious moment on Newsnight last night when Kirsty Wark felt the need to assure Will Hutton “I’m not suggesting you’re a racist at all” as she questioned his line that foreign owners of British media might not have the correct “purpose“.

Wark: What you seem to be suggesting is, that there should be some kind of imperial protectionism here

Hutton: I’m not suggesting that at all, what I’m saying is…

Wark: I’m not suggesting you’re a racist at all

This morning we have the odd declaration on the Guardian‘s front page that it is “British based” and “British owned“. Complete with a Union Jack Flag..

Odd when you consider that the Guardian wins its prized Pulitzers in the US and keeps its assets untaxed in the Cayman Islands…