The Observer, The World’s Oldest Sunday Newspaper And A Liberal Staple, Will Be Sold.

(VOR News) – Even though journalists had organised a two-day protest earlier this week, the sale of the Observer, which is the world’s oldest Sunday newspaper and a stronghold of liberal principles in Britain’s media landscape, was sanctioned on Friday.

The Observer is still the oldest newspaper in the world.

The Scott Trust, the owner of the Guardian Media Group, which is comprised of the Observer and the Guardian, has made the announcement that the sale to Tortoise Media is anticipated to be finalised within the next few days.

It has been reported that the Scott Trust has made an investment in Tortoise Media. As a result, the Scott Trust has become a significant shareholder in the company and has assumed roles on both the editorial and commercial boards respectively.

Tortoise must invest 25 million pounds (32 million dollars) in the Observer.

In the year 1791, The Observer was established, and in 1993, it became a member of the Guardian Media Group. On the other hand, Tortoise is dedicated to maintaining its Sunday print edition while also expanding its presence on the internet.

The editorial code of the Observer has made a commitment to respect the “liberal values and journalistic standards” of the Scott Trust. This commitment is part of the Observer’s commitment to protecting journalistic freedom and the editorial autonomy of the publication.

In 2019, James Harding, who had previously served as the editor of the London Times and as the chief of news at the BBC, and Matthew Barzun, who had previously served as the United States ambassador to London, established Tortoise publishing.

The readers were given the assurance that “we will make every effort to honour its legacy as a champion of human dignity and to revitalise it as a formidable, progressive voice globally.”

This was a pledge that was made to the readers. Harding argued that the Observer exemplifies “the pinnacle of liberal, pioneering journalism.” He said this on multiple occasions.

Ole Jacob Sunde, who serves as the chairperson of the Scott Trust, stated that the Observer need “a sufficiently funded, long-term ally that upholds editorial independence and liberal values.”

Wednesday and Thursday, Guardian and Observer journalists struck.

In addition to publishing print editions from Monday through Saturday, The Guardian also maintains a significant presence on the internet around the world. There has been a walkout that has been started by journalists from both organisations.

Despite the fact that the Guardian is unquestionably the more prestigious brand, particularly in the realm of digital media, the two newspapers have maintained a strong partnership, sharing resources and operating from the same site in London.

Katharine Viner, editor-in-chief of Guardian News & Media, remarked, “I acknowledge the disquiet this period has caused for Observer staff, yet we are assured that we have determined the most advantageous path forward for the title’s journalists, its readership, and the future of both the Observer and the Guardian.”

It has been announced by Laura Davison, who will soon take over as general secretary of the National Union of Journalists, that union members from both publications will get together later on Friday to discuss the next steps that will be taken.

She stated that the timing of the decision, which was made prior to the conclusion of two days of action that received a lot of support, was particularly unfortunate.

Giao Pacey, a partner at Simkins LLP, a law firm that specialises in media and entertainment, says that the new leadership of the Observer must exercise caution in order to protect the value of the newspaper, which is inextricably linked to the brand that it has created over the course of centuries.

Keeping the company’s legacy, culture, and integrity intact while also securing the resources and support necessary for success in a market that is constantly shifting is something that Pacey believes the leadership team needs to accomplish in order to strike a balance. “Upon completion of the sale, the leadership team must achieve an appropriate equilibrium for the business.”

SOURCE: AP

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