Sale of UK’s Observer, world’s oldest Sunday newspaper and a bastion of liberal values, is agreed

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The sale of The Observer, the world’s oldest Sunday newspaper and a bastion of liberal values in Britain’s media landscape, was approved despite two days of strike action from journalists. The Scott Trust, the owner of the Guardian Media Group, which includes The Observer and its sister paper The Guardian, said the sale to Tortoise Media was expected to be signed in December. The Scott Trust said it would invest in Tortoise Media, becoming a key shareholder, and take a seat on both its editorial and commercial boards. Tortoise has also committed to safeguarding journalistic freedom and the editorial independence of The Observer, undertaking to honor the “liberal values and journalistic standards” of the Scott Trust in its editorial code. Tortoise was launched in 2019 by James Harding, a former editor of The London Times and director of news at the BBC, and the former U.S. ambassador to London, Matthew Barzun. Harding said The Observer name represents “the best of liberal, pioneering journalism,” and promised readers that “we will do all we can to live up to its history as a defender of human dignity and to give it a new lease of life as a powerful, progressive voice in the world.” Ole Jacob Sunde, who chairs the Scott Trust, said The Observer needed “an ally to be sufficiently funded, long-term in nature, and respect editorial independence and liberal values.” Journalists at both The Guardian, which publishes print editions between Monday and Saturday and has a deep digital footprint around the world, and The Observer, have protested the sale and went on a 48-hour strike. Giao Pacey, a partner at media and entertainment law firm Simkins LLP, said The Observer’s new leadership will have to be careful in safeguarding the value of the newspaper, which is intrinsically linked to its brand, established over centuries. “Once the sale is completed, the leadership team will need to strike the right balance between preserving the legacy, culture, and integrity of the business while ensuring that it has sufficient resources and support to thrive in a rapidly evolving market,” said Pacey. This article was provided by The Associated Press.