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The Guardian - UK
The Guardian - UK
Business
GNM press office

The Scott Trust and the Guardian Media Group Boards agree sale in principle of the Observer to Tortoise Media

Observer the Scott Trust Tortoise Media Guardian Media Group the Guardian Media Group Group Scott Trust Trust United States Vuk Valcic
Mandatory Credit: Photo by Vuk Valcic/ZUMA Press Wire/REX/Shutterstock (14967751d)
Mandatory Credit: Photo by Vuk Valcic/ZUMA Press Wire/REX/Shutterstock (14967751d) Photograph: Vuk Valcic/ZUMA Press Wire/REX/Shutterstock

  • Sale of the Observer to Tortoise Media approved by the boards of the Scott Trust and Guardian Media Group

  • The Scott Trust will invest in Tortoise Media, becoming a key shareholder

  • The Trust will take a seat on both the editorial and commercial boards of Tortoise Media

  • Deal will see £25m new investment in the Observer, with a commitment to print on a Sunday and a plan to build it into a digital brand

  • The Scott Trust joins new and existing investors committed for the long term.

The boards of the Guardian Media Group and its owner, the Scott Trust, have in principle approved the sale of the Observer to Tortoise Media.

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