The Guardian Media Group (GMG), the parent company of the famous newspaper of the same name, announced on Tuesday 17 September that it was in negotiations to sell the British newspaper. The observerthe oldest Sunday publication in the world, which it held for more than thirty years.
On their website, The Guardian announces that GMG “is in formal negotiations” with Tortoise Media, a news website founded in 2019, launched by a former editor-in-chief of Times and the BBC, with a former US ambassador to the UK.
If the newspaper does not specify the amount expected for this sale, Tortoise Media has made an offer “important enough” be examined in detail and that “it would help [le titre] to preserve their future ». Sky News adds that negotiations have begun “Awhile”
This opportunity would also allow Guardian “will focus on its growth strategy to become more international, more digital and even more reader-funded”said Anna Bateson, managing director of GMG.
Sky News notes that this potential sale would change the already declining British Sunday newspaper market. Still, according to Sky News, The Guardian might consider expanding your printing operations from six days a week to Sunday.
GMG’s total turnover falls
Founded in 1791, The observer It was purchased by GMG in 1993.
GMG published its results for its staggered annual financial year on Tuesday. Revenue from digital readers rose 8% to £88.2m (around €104m), of which more than 56% came from outside the UK.
But total turnover fell by 2.5% to £257.8m (€306m) due to“a slowdown in the advertising market and structural pressures weighing on the print media”.
