"Andrew Gilligan, left, was named Journalist of the Year last month for a series of scoops that led to the resignation of Lee Jasper, aide to the former London mayor Ken Livingstone. But I can reveal that the information Gilligan had access to had previously been seen by the BBC. I'm told that his source within City Hall, a Conservative member of the London Assembly, initially offered the leaked emails to BBC London's political editor, Tim Donovan, who rejected the story as being of no news value. It wasn't until a year later when Gilligan saw the info and investigated further that the scandal was uncovered, leading to Jasper's ignominious departure, and a triumph for the 'Evening Standard', Gilligan's paper."
I think "no news value" translates to "not of any value to our news agenda".
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