Guardian Media Group Sells Observer to Tortoise Media for £25 Million Investment

The UK’s Guardian Media Group has agreed to sell The Observer, the world’s oldest Sunday newspaper, to online news start-up Tortoise Media. Tortoise Media plans to invest £25 million over five years and maintain the print edition. The Scott Trust will become a shareholder in Tortoise Media and sit on its editorial and commercial boards.

The deal comes after unionized journalist strikes and alternative proposal considerations, with Tortoise Media pledging to uphold the Observer’s editorial independence and values

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