• by Ray Schultz , December 8, 2024

The sale of The Observer to the Tortoise Media, long rumored and protested against, has been agreed to in principle.

The Scott Trust, owner of the Guardian and Observer, says it will invest in Tortoise and become a key shareholder. Scott Trust will also take seats on the editorial and editorial boards of Tortoise.

The Observer, the world's oldest Sunday newspaper, will receive £25 million of new investment and a commitment to print on Sunday while also being expanded into a digital brand, The Guardian reports.  

The new ownership model will protect champion “the voice of liberal values,” says Ole Jacob Sunde, Scott Trust chair.

Sunde adds: “It required an ally to be sufficiently funded, long-term in nature and respect editorial independence and liberal values. I believe we have found this in Tortoise Media. We are looking forward to being part of the next phase in the Observer's journey.”

Earlier this month, journalists at The Guardian and The Observer voted to strike to protest the expected sale.  

"We believe it's a total betrayal of the Guardian's values and promises that it's made," says Carole Cadwalladr, an investigative reporter and feature writer for the Observer, according to NPR. "The sale of the Observer to a loss-making startup is potentially the death of this historic brand."

However, the firms say there will be no job loss.