{"id":134127,"date":"2024-12-06T22:42:52","date_gmt":"2024-12-06T15:42:52","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=134127"},"modified":"2024-12-06T22:42:52","modified_gmt":"2024-12-06T15:42:52","slug":"guardian-confirms-sale-of-the-observer-to-tortoise-media","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=134127","title":{"rendered":"Guardian Confirms Sale of The Observer to Tortoise Media"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">The Observer, a British Sunday newspaper that has been running for more than two centuries, will be sold to the digital media start-up Tortoise Media, the publication\u2019s owner, the Guardian Media Group, said Friday, despite staff protests.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The boards of the Guardian Media Group, which also publishes The Guardian, and the Scott Trust, the owner of the Guardian Media Group, have agreed \u201cin principle\u201d to the deal, which is expected to be signed in the next few days. The announcement came shortly after journalists at the two news outlets <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2024\/12\/04\/business\/guardian-strike-observer.html\" title=\"\">waged a 48-hour strike<\/a>, calling the deal \u201crushed\u201d and a risk to the journalism of both newspapers.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The Guardian\u2019s parent company, which bought The Observer in 1993, did not disclose the sale price. But it said the Scott Trust, a 1.3 billion-pound ($1.7 billion) fund, would invest in Tortoise Media and become one of its largest shareholders. The trust will also have representatives on the company and editorial boards of Tortoise Media, which said it had raised \u00a325 million to invest in The Observer.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cWe knew we needed the right combination of resources and commitment to build a new platform for The Observer,\u201d Ole Jacob Sunde, the chair of the Scott Trust, said in a statement. \u201cIt 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.\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">When <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2024\/09\/17\/business\/dealbook\/guardian-observer-sale-tortoise.html\" title=\"\">the proposed sale came to light in September<\/a>, it was a surprise to the papers\u2019 journalists, who raised concerns about the ability of Tortoise Media, a six-year-old company that has not recorded a profit, to preserve the future of The Observer.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Amid pressure from the staff to reconsider the deal, the Scott Trust pushed to have some say in the editorial direction of The Observer after the sale. Journalists at both newspapers walked off the job on Wednesday and Thursday, hoping to delay the deal. 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