This website isn't private circulation, its public. But the answer to your question is no! To my knowledge there are no specified limits, though how widespread the story is can have a bearing on damages.
If it was plastered all over a massive newspaper (as gary Linekers comments were...which incidently I don't feel were especially libelous, but thats my opinion), then it would be more damaging than if the story ran on page 34 of the desborough chronicle! Damages will be assessed in this way. Equally if even a small but specific number of Key people read your article and it effects future earnings/means of employment of the plaintiff, this could also be classed as libel and seriously defamatory!!!
Interestingly you can defame nicknames but only when people don't know who they refer to, and libel does not extend to the dead. Nor is being abusive libelous. So I can call you a F****** C*** if I want to and that would be fine.
There are times when you can get away with it, (e.g. when it is fair comment), but I can't be arsed to go into it in detail. In a nutshell the facts on which the comment were made must be true (so check your facts!!!) and the comment must be fair and on a matter of public interest. Any honest expression of opinion, however exaggerated can be fair comment. Remarks inspired by spite and hatred are not fair comment.
Fook I've just realised how long I've rattled on for. That is pretty much libel law in a nutshell. Join me tomorrow when we'll be splitting an atom! :icon_lol: