Guardian Owner to Sell Observer to Tortoise for £25 Million Investment
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The UK’s Guardian Media Group has agreed to sell the Observer, the world’s oldest Sunday newspaper, to online news startup Tortoise Media.
Tortoise agreed to invest £25 million ($31.9 million) in the British title over the next five years and has pledged to keep publishing the print edition of the approximately 230-year-old paper, according to an emailed statement from the Guardian Media Group and its owner, the Scott Trust, on Friday.