Guardian sells Observer, the world’s oldest Sunday newspaper

The Guardian Media Group (GMG) announced on December 6 that it had reached an agreement to sell The Observer, the world’s oldest Sunday newspaper, to the online news outlet Tortoise Media. This decision comes despite ongoing protests from staff, including a 48-hour strike by over 500 journalists at The Guardian and The Observer earlier this week, opposing the sale.

A statement from GMG and its parent company, the Scott Trust, confirmed that both boards had given in-principle approval for the sale. The statement emphasized that the new ownership structure would safeguard the future of The Observer, with a focus on upholding liberal values and supporting high-quality journalism.

Tortoise Media, a “slow news” platform founded in 2019, approached GMG with an offer to acquire the historic newspaper and invest over £25 million (around $32 million) over the next five years to rejuvenate both the editorial and commercial aspects of the publication.

In response to the sale, unionized staff of The Observer voted overwhelmingly (93%) in favour of strike action, accusing the Scott Trust of betraying the paper’s values.

Katharine Viner, the editor-in-chief of Guardian News & Media, acknowledged the concerns of The Observer staff, but expressed confidence that the deal represented the best path forward.

Tortoise, led by former BBC News Director James Harding, intends to continue publishing The Observer on Sundays, while integrating it with Tortoise’s podcasts and live events.

With a legacy spanning back to 1791, The Observer is one of the longest-running publications in the world. GMG’s Chief Executive, Anna Bateson, stated that this deal would preserve the newspaper's 233-year history and secure its future.

As part of the transaction, the Scott Trust is expected to invest in Tortoise Media, becoming one of its largest shareholders in the coming days.