The Scott Trust, which owns The Guardian, will become one of the largest shareholders in the six-year-old start-up, a deal first-reported by Sky News.
The owner of The Guardian is pressing ahead with the sale of the world's oldest Sunday newspaper to a fledgling digital media company, just hours after scores of journalists went on strike in protest at the deal. Guardian Media Group and its parent, the Scott Trust, confirmed on Friday that the sale of The Observer to Tortoise Media - first reported by Sky News - would proceed.
A number of unidentified rival suitors have declared an interest in buying The Observer through letters sent by legal representatives, while the eco-entrepreneur, Dale Vince, has also stated that he would be interested in acquiring it. On Friday, the parties said the deal would be 'completed and signed in the coming days'.
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Guardian and Observer Journalists Launch First Strike in Over 50 Years Over Sale to Tortoise MediaGuardian and Observer journalists are staging a 48-hour walkout in protest against the planned sale of The Observer to digital start-up Tortoise Media. The strike, the first in over 50 years, challenges editor Katharine Viner's position and aims to disrupt Guardian Media Group’s operations.
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