LONDON: Guardian Media Group announced on Friday that it has agreed to sell The Observer, the world’s oldest Sunday newspaper, to online news company Tortoise Media, defying staff strikes.
The announcement by GMG and its owner came despite a 48-hour strike this week by more than 500 Guardian Daily and Observer journalists opposing the deal.
“The boards of Guardian Media Group and its owner, Scott Trust, have approved in principle the sale of The Observer to Tortoise Media,” it said in a statement.
“The new ownership model will protect the Observer’s future, raise the voice of liberal values and invest in exceptional journalism,” it added.
Tortoise, a “slow news” outlet founded in 2019, has agreed to buy the publication from GMG and invest more than £25 million ($32 million) over the next five years in the “editorial and commercial renewal of the title”. Was approached with an offer to do business.
Unionised staff members voted 93 per cent in favor of strike action last month, accusing Scott Trust of “betrayal” over the sale.
Tortoise, run by former BBC News director James Harding, plans to continue publishing The Observer on Sundays and combine it with its podcasts and live events.