UK's Guardian agrees sale of world's oldest Sunday paper

London: The Guardian Media Group announced on Friday it had agreed to sell the world s oldest Sunday newspaper, The Observer, to online news company T...

London: The Guardian Media Group announced on Friday it had agreed to sell the world's oldest Sunday newspaper, The Observer, to online news company Tortoise Media, brushing aside strikes by staff.

The announcement by GMG and its owner came despite a 48-hour strike this week by more than 500 journalists at the Guardian daily and Observer opposing the deal.

"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," a statement said.

"The new ownership model will protect The Observer's future, championing the voice of liberal values and investing in exceptional journalism," it added.

Tortoise, a "slow news" outlet launched in 2019, had approached GMG with an offer to buy the publication and invest more than £25 million ($32 million) over the next five years in the "editorial and commercial renewal of the title".