The owner of the Guardian has confirmed ongoing discussions to sell the Observer, recognized as the world’s oldest Sunday newspaper, to Tortoise Media. Tortoise has proposed an investment of approximately £25 million over five years aimed at revitalizing the Observer’s editorial and commercial operations.
Founded by James Harding, a former BBC News chief and Times editor, Tortoise seeks to ensure the Observer remains a viable standalone publication, whether or not the deal goes through. Guardian Media Group (GMG) is not actively looking to sell but is evaluating Tortoise’s offer.
Established in 1791, the Observer employs around 70 staff members. Harding expressed a strong belief in the paper’s potential, stating, “We believe passionately in its future – both in print and digital.” He highlighted the paper’s legacy, referencing George Orwell’s description of it as “the enemy of nonsense.” Orwell contributed to the publication during and after World War II.
The Observer’s print circulation had been declining steadily, with the last reported figures in 2021 showing around 136,000 copies sold weekly. Tortoise, founded with the mission of delivering “slow news” rather than pursuing immediate headlines, operates a website, produces podcasts, and hosts live discussions known as “Think-ins.”
In 2022, Tortoise reported an operating loss of £4.6 million against a turnover of £6.2 million. Its financial supporters include notable figures like David Thomson of Thomson Reuters, tech investor Saul Klein, and banker Bernie Mensah.
