The Observer, the UK’s oldest Sunday newspaper, is set to change hands after being sold to Tortoise Media. The sale was made possible by negotiations between Tortoise and the Scott Trust, which has been the owner of the Observer since 1993. The decision comes as part of a strategic review aimed at enhancing the Observer’s digital presence and younger audience.
The Scott Trust has agreed to stay on as a part-owner of the Observer with a seat on editorial and commercial boards, ensuring that the newspaper maintains its liberal values and independence. Tortoise Media has committed to securing long-term funding for more journalists and investing in the title’s future.
The sale is seen as a positive step forward for both parties, allowing the Observer to tap into fresh ideas and expertise while maintaining its identity and values. The Scott Trust will continue to be represented on both commercial and editorial boards, ensuring that editorial independence and press freedoms are safeguarded.
The deal marks a significant change in the Scott Trust’s 87-year history, but the organization remains committed to supporting progressive liberal journalism. Ole Jacob Sunde, chair of the Scott Trust, expressed confidence that the sale will give the Observer a fresh start while staying true to its values.
Source: https://www.theguardian.com/commentisfree/2024/dec/07/best-for-the-observer-guardian-deal-tortoise