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Sale of the Observer to Tortoise Media agreed in principle
The Guardian
|December 07, 2024
The sale of the Observer, the world's oldest Sunday newspaper, to Tortoise Media has been agreed in principle.
The announcement by the Scott Trust, the ultimate owner of the Guardian and Observer, came as it also revealed that it would invest in Tortoise to become a key shareholder and take a seat on its editorial and commercial boards.
The Trust said the new ownership model would "protect the Observer's future, championing the voice of liberal values and investing in exceptional journalism while building its digital offering".
"We knew we needed the right combination of resources and commitment to build a new platform for the Observer," said the Scott Trust chair, Ole Jacob Sunde.
"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."
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