The recent approval of the sale of the Observer newspaper to Tortoise Media marks a significant moment in the history of British journalism. The Observer, which holds the title as the oldest Sunday newspaper in the world, was founded back in 1791 and has been an integral part of the UK media landscape. The deal was confirmed by the Guardian Media Group, which has owned the Observer since 1993, following a board meeting that involved both the Scott Trust and Guardian Media Group.
The announcement, made on a Friday morning, comes after a tumultuous week in which journalists from both the Observer and its sister publication, the Guardian, participated in a 48-hour strike. This action was primarily driven by staff concerns over the future of the Observer under new ownership. The strike emphasized the anxiety among journalists regarding their roles and the paper’s direction in light of the upcoming transition.
Tortoise Media, a relatively new player in the media scene, was established five years ago and is known for its commitment to long-form journalism. In contrast to the fast-paced breaking news cycle prevalent in much of the media today, Tortoise Media emphasizes depth and analysis in its reporting. The company has gained traction for its approach to journalism, which aims to engage audiences with detailed investigations and narratives.
James Harding, a former executive at the BBC and The Times, currently leads Tortoise Media. He mentioned that he is “honoured and excited” about the prospect of working with the Observer. In his statement, Harding assured readers that Tortoise Media would strive to uphold the Observer’s historical legacy as a defender of human rights and dignity while also revitalizing it as a progressive voice in the media landscape.
The backing of Tortoise Media includes notable figures such as tech investor Saul Klein and Nando’s executive Leslie Perlman. They have committed to investing £25 million into the Observer, which is seen as a crucial part of the paper’s revival strategy.
Despite the enthusiasm surrounding the acquisition, concerns linger among the staff at the Observer. Laura Davison, the incoming general secretary of the National Union of Journalists, spoke candidly about the unique role the 233-year-old newspaper plays in public discourse and expressed apprehension about its next chapter under new management.
Additionally, Katharine Viner, the editor-in-chief of Guardian News and Media, acknowledged the uncertainty faced by Observer employees during this transition. However, she expressed confidence that the new structure was the best possible outcome for both the paper and its readers. She assured that the deal would protect the values enshrined by the Scott Trust and support the sustainability of liberal journalism.
As for the staff, they have been informed that if they choose not to stay with Tortoise Media, they can opt for voluntary redundancy with enhanced terms. Freelancers have also been guaranteed contract extensions through September 2025, with negotiations to follow shortly thereafter. This approach has been designed to ensure that the transition respects the dedicated workforce while providing options for those who may want to depart.
Historically, the Observer’s circulation has faced challenges, especially in recent years. Before ceasing to publish audited figures in 2021, the paper’s weekly circulation was around 136,000 copies. Anna Bateson, the CEO of the Guardian Media Group, commented on the significance of the investment move, asserting that it will safeguard the Observer’s legacy and ensure that it continues to produce impactful journalism both online and in print.
In summary, the sale of the Observer to Tortoise Media represents both a new chapter for the venerable publication and a broader shift in the media landscape, highlighting the ongoing evolution of journalism in response to changing reader expectations and market dynamics.
