LONDON — The sale of the Observer, the world’s earliest Sunday paper and a bastion of liberal worths in Britain’s media landscape, was authorized Friday regardlessof 2 days of strike action from reporters this week.
The Scott Trust, the owner of the Guardian Media Group, which consistsof the Observer and its sis paper the Guardian, stated the sale to Tortoise Media is anticipated to be signed in the coming days.
The Scott Trust stated it will invest in Tortoise Media, endingupbeing a secret investor, and take a seat on both its editorial and business boards.
Under the terms of the offer, Tortoise will invest 25 million pounds ($32 million) in the Observer, which was established in 1791 and endedupbeing part of the Guardian Media Group in 1993, and hasactually dedicated to continue its Sunday print edition and develop up its digital brandname.
It has likewise dedicated to securing journalistic liberty and the editorial self-reliance of the Observer, endeavor to honor the “liberal worths and journalistic requirements” of the Scott Trust in its editorial code.
Tortoise was released in 2019 by James Harding, a previous editor of the London Times and director of news at the BBC, and the previous U.S. ambassador to London, Matthew Barzun.
Harding stated the Observer na