The Literature Prize secures a sponsor

The Literature Prize secures a sponsor
So the UK's shiniest new prize for literature – the … er … Literature Prize – has found a sponsor. Anyone who's ever cried themselves to sleep over the death of contemporary culture, the depredations of modern life and the triumph of the market over Art – otherwise known as the Booker prize – can rejoice. The future of a literary prize which is "endorsed by writers of international stature", judged by a panel "drawn annually from a body of writers, critics and academics immersed in the world of literature", and whose "sole criterion" is "excellence", is now assured.