The Observer, the world’s oldest Sunday newspaper, is sold amid journalistic opposition

LONDON (AP) — The owner of Britain’s The Guardian confirmed Wednesday that it has sold The Observer, the world’s oldest Sunday newspaper, to Tortoise Media for an undisclosed price.

The Scott Trust, which owns Guardian Media Group, said in a statement that Turtle Media would acquire the Observer in a cash and shares deal.

Founded in 1791 and becoming part of the Guardian Media Group in 1993, The Observer is a bastion of liberal values ​​in the British media. Turtle promised readers that it would respect the newspaper’s historic value.

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

“The Observer has a historic place in journalism and a special place in the hearts of our readers,” Harding said. “We’re delighted to be doing all we can to ensure its values, interests and enthusiasm reach even more people for many years to come.”

As part of the deal, Tortoise has entered into a five-year commercial agreement with GMG, which will pay for printing and distribution services and marketing through the Guardian.

The Scott Trust will also take a 9% stake in Tortoise Media and put £5 million ($6.3 million) into Tortoise Media as part of a £25 million investment, much of which will focus on building the Observer’s own digital identity ——Its current online influence is second only to that of The Guardian.

Ole Jacob Sunde, chairman of the Scott Trust, said: “This deal brings new investment and ideas to the Observer which will enable it to attract new audiences and enhance the role of free journalism in our society.”

Tortoise said the first Observer version it has is expected to be published in the spring.

It was also announced that Lucy Rock has been appointed print editor of the Observer, the first woman in the newspaper’s 100-year history. She will work alongside a digital editor to help the Observer build its online brand. Locke will report to Harding, who serves as editor-in-chief.

The proposed sale was opposed by Guardian Media Group journalists, culminating in a 48-hour strike earlier this month.

Tortoise is committed to meeting all key terms of employment for all staff, freelancers and contributors who wish to continue working at The Observer.

Harding said he respects the Observer that “people have different views on the best way forward.”