Sale of British newspaper Observer, world’s oldest Sunday newspaper and bastion of liberal values, agreed

LONDON — The sale of the Observer, the world’s oldest Sunday newspaper and a bastion of liberal values ​​in the British media landscape, was approved on Friday despite two days of journalists’ strike this week.

The Scott Trust, owner of the Guardian Media Group, which includes the Observer and its sister newspaper the Guardian, said the sale to Tortoise Media was expected to be signed in the coming days.

The Scott Trust announced that it would invest in Tortoise Media, becoming a key shareholder, and serve on its editorial and business boards.

Under the terms of the deal, Tortoise will invest £25 million ($32 million) in the Observer and is committed to continuing its Sunday print edition and growing its digital brand.

He also pledged to safeguard the journalistic freedom and editorial independence of the Observer, pledging to honor the “liberal values ​​and journalistic standards” of the Scott Trust in its editorial code.

Tortoise was launched in 2019 by James Harding, former editor of the London Times and director of news at the BBC, and the former US ambassador to London, Matthew Barzun.

Harding said the Observer’s name represents “the best of liberal and pioneering journalism” and promised its readers that “we will do all we can to live up to its history as a defender of human dignity and for it breathing new life as a powerful and progressive voice in the world.

Ole Jacob Sunde, who chairs the Scott Trust, said the Observer needed “a sufficiently funded ally that is long-term in nature and respects editorial independence and liberal values”.

Journalists at the Guardian, which publishes print editions between Monday and Saturday and has a strong digital footprint worldwide, and the Observer, protested the sale and began a 48-hour strike on Wednesday and Thursday. Although the Guardian was clearly the more important brand, particularly in the digital space, the two newspapers had a very close relationship, operating from the same building in London and sharing resources.

“I recognize how disruptive this period has been for staff at the Observer, but we are confident that we have agreed the best possible path forward for the title’s journalists, its readers and the future of the Observer and the Guardian,” said Katharine Viner, editor-in-chief. director of Guardian News & Media.

National Union of Journalists members from both newspapers will meet later on Friday to consider next steps, said its elected general secretary, Laura Davison.

“The timing of the decision, before the end of two extremely well-supported days of action, is particularly poor,” she said.

The Observer was founded in 1791 and became part of the Guardian Media Group in 1993.