The Newspaper Publishing Association (NPA) has announced it will launch a rival to the British Press Awards, aiming to direct proceeds from the event back into the industry.

According to a release from the NPA, its members have undertaken to participate in the new unnamed awards and not in any competing events.

The British Press Awards were run by Press Gazette magazine until its 2009 sale to Progressive Media by owner Wilmington Group, who kept control of the awards.

Wilmington was told of the move on Friday, but have yet to issue a comment.

“Wilmington did a great job but we wanted proceeds from the awards to stay within the industry to help secure on-going finance for the work of the Society of Editors. Along with the society we also want to provide a regular contribution to the Journalists’ Charity," said NPA chairman Clive Milner.

The NPA has asked the Society of Editors to take full responsibility for the 2011 awards and distribution of the proceeds.

Bob Satchwell, executive director of the Society of Editors, will oversee the awards, which will be reviewed after next years' awards ceremony.

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