The UK’s Observer, the world’s oldest Sunday newspaper, founded in 1791, is being sold

The owner of Britain’s Guardian newspaper confirmed on Wednesday that it has sold The Observer, the world’s oldest Sunday newspaper, to Tortoise Media for an undisclosed fee.

The Scott Trust, which owns Guardian Media Group, said in a statement that Tortoise Media is buying The Observer through a combination of cash and shares.

The Observer, which was founded in 1791 and became part of the Guardian Media Group in 1993, is a bastion of liberal values ​​in Britain’s media landscape. Tortoise has promised readers that it will respect the historical values ​​of the newspaper.

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

“The Observer has a historic place in the world of journalism and a special place in the hearts of its readers,” Harding said. “We are excited to put everything we have into making sure his values, interests and passions reach even more people for many years to come.”

As part of the deal, Tortoise has agreed a five-year commercial deal with GMG, which will pay it for printing and distribution services, as well as marketing through the Guardian.

The Scott Trust will also take a 9% stake in Tortoise Media and commit £5 million ($6.3 million) to Tortoise Media as part of a £25 million investment, most of which will focus on creating digital of The Observer. identity – currently, its online presence is very much secondary to that of the Guardian.

“This deal provides investment and new ideas for the Observer that will take the title to new audiences and enhance the role that liberal journalism plays in our society,” said Ole Jacob Sunde, chairman of the Scott Trust.

Tortoise said the first edition of the Observer under his ownership is expected to be published in the spring.

It was also announced that Lucy Rock has been appointed press editor of the Observer, the first woman to oversee the paper in 100 years. She will work alongside a digital editor as the Observer builds its online brand. Rock will report to Harding, who will serve as editor-in-chief.

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

Tortoise is committed to honoring all key terms of employment for any staff members, as well as freelancers and contributors, who wish to continue working at The Observer.

Harding said he respected that “people have had different views about the best way forward” to the Observer.