The sale of the Observer, the world’s oldest Sunday newspaper, to the Media Tortoise in the beginning.
Announcement by Trust ScottThe last owner of the Guardian and the Observer comes as he also shows that he is positioning himself in the dome to become a key shareholder and take a seat on both the editorial and commercial media boards.
Faith said the new ownership model would be “screening the future viewer, claiming the voice of good assets and investing in unique journalism while building a digital role.”
“We know that we need a combination of resources and commitment to build a new platform for scouts,” said the chairman of the Scott Trust, Ole Jacob Sunde.
“It was necessary to have a partner with sufficient funding, long-term in nature and respect for editorial independence and liberal values. I believe that we have found this in the Media Dome. We look forward to the next part of the journey in the Observer.”
The deal, already agreed at the outset, will result in a £25m new investment in the Observer, with a commitment to print on Sunday and a plan to build a digital brand. Scott Trust will connect new and existing investors with what they say is a long-term commitment.
Staff told me there would be no job losses from the deal. The staff observer was informed that they would also opt to accept round trip redundancy on increased terms. If they moved the shelter, their existing terms and conditions would be respected.
The Turtle was launched in 2019 by James Harding, former editor of the Times of London and former director of BBC news; and former US ambassador to the UK, Matthew Barzun.
Harding said the sale is an opportunity to invest in and extend the Observer’s legacy.
Turtle has promised to connect the watcher with turtle podcasts, financials and live events and invest in it to make the brand stand out digitally.
News of Turtle access to the Observer came out in September.
Earlier this week, the Guardian and Observer journalists who were members of the National Union of Journalists went on a 48-hour strike, protesting most of the project.
Charles Gurassa, chair of the church Guardian Media Group board, he said: “This new chapter is very important for the observer, giving it access to the much needed investment it needs to build a long-term digital presence and ensuring that the top level management supports and focuses it needs to flourish. Guardian, it means we are doubling down on our long-term growth strategy as we continue to expand globally and across digital and other media channels.”
Katherina Viner, editor-in-chief, said: “I appreciate how unsettled this period has been for the scout staff, but we are confident that we have agreed on the best way forward for the title’s journalists, readers and future generations. both Guardian and Warden. It is a model that will see investment in journalism and journalism, builds good Scottish confidence in the future of the Observer, and protects the Conservative and Guardian’s ability to continue to produce reliable, liberal journalism.
Guardian Media Group chief executive Anna Bateson said the investment would “maintain the Observer’s 233-year-old legacy and future-proof the paper, ensuring it can continue to produce liberal journalism, online and in print, for years to come”.
She added: “Underpinning it all will be a continued commitment to promoting a free press and protecting the newsroom. The deal also supports the Guardian’s long-term success, building growth globally and across digital, as we continue to put readers at the heart of our excellent journalism.”
Scott Trust has a seat on both the company’s board, Barzun as chairman and its independent editorial board, chaired by Richard Lambert, former editor of the Financial Times.
Harding said: “We are honored and excited at the prospect of working together to renew the Observer, a name that represents the best of liberal, bulwark journalism. We admire his talent as patient as it is humane. We love his appetite for the arts and, of course, food. We promise our readers everything we can to live up to its history as the defender of human dignity, and to give him a new firmness of life, a strong, progressive voice in the world.
Barzun said: “This process has revealed the enormous respect and passion that so many of the world’s oldest newspapers have. I am very pleased with our investor partners, including Scott Trust, who all expect the highest quality independent journalism. We are filled with a tremendous sense of responsibility as we become part of its long story and keep it a part in sharing the stories that tell for a long time.”
Lambert said: “Observer of things. In a tumultuous market, she is an independent and progressive voice, covering ideas and stories that don’t get proper attention elsewhere. His editorial comments are informed by his journalism rather than by other interests. These are values to uphold, and I am determined to help in any way I can.”