An email has just gone out to all staff at the Guardian and Observer. Deal’s done…
“Dear all,
I wrote to you earlier this week to let you know that the Scott Trust has been reviewing the ownership structure for the Observer over the last few months. Earlier this week, I set out the criteria the Trust has been taking into account to reach a decision. I believe they have now been met.
With that in mind, we have now in principle approved the sale of the Observer to Tortoise Media.
These are the principles we were guided by during the negotiations:
- The Scott Trust to stay on as a part-owner of the Observer
- The Observer to have secure and sustainable, long- term funding
- Other owners of the title to take a long-term view of their investment
- All owners to embody the values of editorial independence, press freedoms and liberal journalism that have been part of the Observer’s ethos since we bought it in 1993.
- The Observer to be governed by a mature board structure, with a role for the Scott Trust on the Tortoise Media editorial and commercial boards
Collectively we have thought long and hard about this decision.”
All that’s left is for the Guardian Media Group and James Harding’s Tortoise Media to sign on the dotted line. The strikes didn’t work then…
The Guardian and The Observer are in meltdown as journalists have ditched their caramel lattes and very important meetings for the picket line. Over 500 journos voted to strike for 48 hours in protest against plans to flog The Observer to Tortoise Media. The slow-news outfit is reportedly ready to cough up £20 million for the title. The Guardian will be wishing they had those minimum service levels it so passionately campaigned against…
Picket lines have popped up outside Guardian and Observer HQ, with disgruntled hacks waving placards in solidarity. Loyal readers have been warned they may spot some changes midweek, with stories online and in print today and tomorrow pre-written, and some will carry anonymous bylines. Meanwhile, Scott Trust chair Ole Jacob Sunde isn’t backing down. While doffing his cap to the striking hacks, he’s doubling down on the sale:
“I fully respect people’s rights to take industrial action… I am confident that this has been – and continues to be – a detailed and thoughtful process.”
Not sure that’ll calm tensions…
The Guardian’s head honchos are trying to work out how to keep the paper in print on the 4th and 5th of December when the majority of their staff look set to strike over the Observer sale. They’re rattling through the usual strikebreaking tactics…
So far bosses have tried getting HR to innocently ask staff what their plans are for the strike days so they can sort out “contingency plans.” That’s much to the chagrin of the NUJ, which responds by saying hacks “are under no obligation to tell their management of their intentions. We are advising all NUJ members at The Guardian and Observer not to engage with such inappropriate requests from the company.” James Harding’s slow news outlet Tortoise has been busy justifying its attempt to buy the Observer by saying “everyone can see it is heading down a path to irrelevance and, probably sooner rather than later, closure.” Not sure that’ll calm tensions…
Editor Kath Viner is reportedly approaching hacks one-on-one to try to convince them not to strike. The paper might want to start gathering a few spare left-wing hacks to bus through the picket line in two weeks’ time. If only the Guardian had those minimum service levels it so strongly opposed…
It’s a sorry day for the Guardian’s dwindling readership as staff vote in overwhelming numbers to strike over plans to offload The Observer to Tortoise Media – a ‘slow news’ startup that can’t even turn a profit in the good times. A staggering 93% of the 600-strong workforce backed strike action, with 96% supporting measures short of a walkout. Not exactly a stampede to board another sinking ship…
Tortoise boss James Harding has spent years pushing his “centrist dad” brand with help from the BBC and other left-wing outlets. Though even Guardian staff aren’t buying into the Observer sale, promising mass walkouts as early as December if the talks aren’t called off. Staff are worried that loyal readers will be left “betrayed” if the paper is sold off to Tortoise, which has already burnt through £16.3 million since it launched in 2018. No doubt panic-stricken progressives will be distraught if press operations do shut down…
UPDATE: Both Guardian and Observer staff will strike on December 4th and 5th.
After the news broke that Guardian Media Group is in talks to sell The Observer to ‘slow news’ outlet Tortoise Media, GMG staff are up in arms, and now have agreed they may strike over the sale. Not surprising they don’t want to join another sinking ship when Tortoise’s traffic dropped by a whopping 41% from July to August alone and boasts a £4.6 million annual operating loss…
Yesterday, 400 staff attended a meeting to voice their grievances over the change of hands, complaining of the utter “betrayal“. Staff harked back to the (clearly failed) “Not For Sale” marketing campaign last year to protect their “independence”, fearing that their readers who donate to their left-wing content will feel let down. Meanwhile, GMG’s CEO is still trying to push the narrative to that this is an “exciting strategic opportunity” for the staff. With GMG operating a £21 million loss, it’s definitely an opportunity to offload at least…
Sky News reports that Guardian Media Group is in talks to sell The Observer to ‘slow news’ outlet Tortoise Media. GMG chief executive Anna Bateson says this is “an exciting strategic opportunity.” An opportunity to offload…
Liberal media supremo James Harding has championed his “centrist dad media” brand with the help of BBC, the left-wing broadsheets, and millions in initial funding over the course of its 2019 launch. Five years later Tortoise Media has a £4.6 million annual operating loss to show for it, which is up £1.5 million from the year before. On the bright side, not as bad as GMG’s £21 million loss…
According to analytics data from SimilarWeb, Tortoise is struggling to get consumers to read its drawling long-form content, either. Over the last 90 days this is how they have done in terms of reader visits, which Guido has handily compared with another not-for-profit online outlet also founded to do more highbrow journalism:
From July to August alone Tortoise’s traffic dropped by a whopping 41%, and it is now attracting fewer than 500,000 monthly unique visitors. Audiences are hardly crying out for boring, long-winded centrist content…
The Observer is beaten to the bottom of print circulation only by The Guardian. Birds of a feather flock together…
Speaking at his speech on how to achieve “progressive capitalism” Wes Streeting fired a dig and Andy Burnham:
“Bond markets are not bond villains and fiscal rules matter.”
