The Guardian Media Group (GMG) has announced the sale of The Observer, the world’s oldest Sunday newspaper, to Tortoise Media, an online news company. The decision, approved by the Scott Trust, GMG’s owner, comes amidst strong opposition from staff, including a recent 48-hour strike by over 500 journalists from The Guardian and The Observer.
In a statement released on Friday, GMG said, “The new ownership model will protect The Observer’s future, championing the voice of liberal values and investing in exceptional journalism.”
Tortoise Media, founded in 2019 by former BBC News director James Harding, has pledged to invest over £25 million in the publication over the next five years, focusing on editorial and commercial renewal. The company plans to preserve the 233-year-old newspaper’s Sunday print tradition while integrating it with Tortoise’s digital content, podcasts, and live events.
GMG Chief Executive Anna Bateson emphasized the importance of safeguarding The Observer’s legacy. “This investment will preserve the 233-year legacy of The Observer and protect its future,” Bateson said.
However, staff at The Observer have expressed dissatisfaction, labeling the sale as a betrayal. Unionized employees had previously voted overwhelmingly in favor of strike action, citing concerns about the future of the paper and the working conditions of its staff.
Katharine Viner, editor-in-chief of Guardian News & Media, acknowledged the discontent but stood by the decision. “I recognize how unsettling this period has been for Observer staff, but we’re confident we have agreed on the best possible way forward,” Viner stated.
As part of the deal, expected to be finalized in the coming days, the Scott Trust will invest in Tortoise Media and become one of its largest shareholders, further tying its legacy to the future of The Observer.
