The owner of The Guardian has confirmed the sale of The Observer, the Sunday newspaper founded in 1791, to Tortoise Media. The deal was approved during a meeting of the boards of the Scott Trust and Guardian Media Group, which owns the paper. The announcement, made Friday morning, follows a week of striking action by journalists at both The Observer and The Guardian.
Tortoise Media, a five-year-old outlet known for its focus on long-form journalism rather than breaking news, will now take the helm of the iconic Sunday paper. Led by James Harding, a former BBC and The Times executive, and Matthew Barzun, former US Ambassador to the UK, Tortoise Media is backed by high-profile investors, including tech investor Saul Klein and Nando’s executive Leslie Perlman. The company has pledged £25 million in investment for The Observer‘s future.
Harding expressed excitement about the acquisition, stating that he was “honoured” to work with the paper’s legacy. He emphasized Tortoise’s commitment to preserving The Observer‘s history while giving it a “new lease of life” as a progressive voice in global journalism.
The sale follows significant unrest among staff. Journalists at both The Guardian and The Observer went on strike earlier this week, citing concerns about their futures under new ownership. Laura Davison, general secretary-elect of the National Union of Journalists, highlighted the newspaper’s unique role in public life, stating that its journalists care deeply about the paper’s next chapter.
Katharine Viner, editor-in-chief of Guardian News and Media, reassured staff by saying that the agreement would provide investment in journalism and protect the values of the Scott Trust. She emphasized that the sale ensures the continued production of trusted, liberal journalism at both The Observer and The Guardian.
Since 1993, The Guardian Media Group has owned The Observer, with around 70 employees working on the paper. As part of the sale, staff were offered the option of voluntary redundancy with enhanced terms or a transfer to Tortoise Media on existing contracts. Freelancers were informed their contracts would be extended until September 2025, at which point they will be renegotiated.
Once a leading newspaper, The Observer‘s circulation had been on the decline until 2021, when it stopped publishing audited figures. At the time, it was selling approximately 136,000 copies each week.
Guardian Media Group CEO Anna Bateson expressed confidence in the sale, stating that the investment would preserve The Observer‘s 233-year legacy and ensure its future. She also noted that the deal aligns with the Guardian’s ongoing global growth, particularly in digital media, and reaffirms its commitment to independent, high-quality journalism.
