[ad_1]
Green energy businessman Dale Vince OBE has confirmed his interest in purchasing The Observer.
Vince has thrown his hat into the ring as negotiations continue with Tortoise Media to acquire the world’s oldest Sunday newspaper.
Tortoise says it has funding of £20m to invest in The Observer if ownership is transferred to it.
The loss-making podcast publisher has been in a period of exclusive negotiations since mid-September and has indicated that it plans to either conclude the deal, or walk away, before Christmas.
Journalists have concerns that Tortoise would be a less secure owner of The Observer than Guardian Media Group which is backed by a £1.3bn trust fund.
Around 500 Guardian and Observer journalists plan to hold a 48-hour strike next week in protest at the way The Scott Trust, which owns GMG, has conducted the sale process of The Observer.
Vince has said he would hold the Observer in a trust to safeguard its editorial independence.
Vince said in a statement to Press Gazette: “I’m a reader and a fan of the Observer and a believer in the need for greater media plurality in Britain.
“We’ve already got too many right-wing media barons (often tax exiles) controlling what people read and hear and ultimately believe. Out of that concern I’ve expressed an interest in the sale of the Observer and discussed the situation with the GMG.
“I understand talks with Tortoise are at an advanced stage and in an exclusive period – I’ve confirmed that should there be a problem concluding that deal I would like to enter negotiations and would be interested in the idea of holding the title in a trust – as currently is the case with the Scott Trust the ultimate owner of the Observer.”
Vince is currently involved in a libel dispute with political blog Guido Fawkes.
Vince’s company, green energy supplier Ecotricity, made a profit of £38.5m in the year to March 2023.
An Observer insider said: “We have all been worried that the Scott Trust is rushing into a poorly funded deal without exploring all available options. We hope they now pause the negotiations with Tortoise and explore this new offer”
A Guardian Media Group spokesperson said: “We have not received bids containing any substantive detail from any party other than Tortoise Media.”
The post Businessman Dale Vince confirms interest in buying Observer appeared first on Press Gazette.
[ad_2]
Source link
