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Reading: Guardian proprietor to debate Observer sale days earlier than strike motion
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Michigan Post > Blog > Business > Guardian proprietor to debate Observer sale days earlier than strike motion
Business

Guardian proprietor to debate Observer sale days earlier than strike motion

By Editorial Board Published November 20, 2024 3 Min Read
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Guardian proprietor to debate Observer sale days earlier than strike motion

One insider described the two-day strike as the primary in what might be a sequence of actions by employees.

They’re anticipated to assist the choice of Guardian Media Group (GMG) administration to proceed with the negotiations, with Anna Bateson, the corporate’s chief government, having promised to achieve a conclusion earlier than Christmas.

The Scott Belief has pledged to retain a small stake in The Observer if the deal goes forward.

One supply mentioned that whereas GMG had been contacted by representatives of two putative buyers, that they had provided no element about their underlying backers.

Lord (David) Sainsbury, a member of the grocery store chain’s founding household, has been rumoured for weeks to be concerned in a type of potential rival gives.

“It became clear that this was a serious offer that could create a more sustainable business strategy for the Observer.”

He has confirmed talks to lift £25m from new and current shareholders to spend money on The Observer.

If the deal proceeds, it might signify the primary change in possession of The Observer, which was first printed in 1791, in over three many years.

Sources mentioned that the newest industrial motion involving Guardian journalists occurred in 1971, as a part of a common strike coordinated by the TUC.

Ms Bateson moved to handle that criticism final month, saying that “The Scott Trust exists unambiguously to support the Guardian” and citing minutes from a 1993 board assembly.

She additionally warned staff that if the sale to Tortoise Media collapsed, “the status quo is not an option”, with “difficult choices” needing to be made “urgently”.

Final month, an open letter signed by main figures from the humanities and tradition together with Invoice Nighy, Hugh Grant, Mary Beard and Ralph Fiennes labelled the potential deal “disastrous”.

“While figures of £100m are being bid for other publications [a reference to the recent sale of The Spectator magazine], this poorly funded approach sets the value of the Observer at or near zero,” the letter mentioned.

Earlier this week, a GMG spokesperson mentioned: “We recognise the strength of feeling about the proposed sale of the Observer.

“We all know that potential change is unsettling and respect that NUJ members want to make their views heard.

“Our priority is to do what is right for the Guardian and the Observer so that both titles continue to promote liberal journalism and thrive in a challenging media environment.

“We are going to proceed our talks with the NUJ.”

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