Sale of UK’s Observer, world’s oldest Sunday newspaper and a bastion of liberal values, is agreed

印刷用画面を開く

Posted

Category: Business

Listening

Unlocking Word Meanings

Read the following words/expressions found in today’s article.

  1. bastion / ˈbæs tʃən / (n.) – something that represents, protects, or defends a particular value, idea, or way of life
    Example:

    The library is a bastion of knowledge and learning in the community.


  2. undertake / ˌʌn dərˈteɪk / (v.) – to formally promise or commit to doing something
    Example:

    By signing the contract, Joshua is undertaking to follow all the rules carefully.


  3. a new lease of life / ə nu lis ʌv laɪf / (idiom) – a chance or occasion to become more active, successful, or happy after a period of difficulty
    Example:

    The park was cleaned and repaired, giving it a new lease of life for families to enjoy again.


  4. footprint / ˈfʊtˌprɪnt / (n.) – the effect or impact that a person, company, or activity has on something
    Example:

    The company’s global footprint has expanded to over 50 countries in the past decade.


  5. integrity / ɪnˈtɛg rɪ ti / (n.) – the quality of being strong, honest, and true to the values or principles of something
    Example:

    The company’s integrity was important to its customers, who trusted it to always deliver high-quality products.


Article

Read the text below.

The sale of The Observer, the world’s oldest Sunday newspaper and a bastion of liberal values in Britain’s media landscape, was approved despite two days of strike action from journalists.


The Scott Trust, the owner of the Guardian Media Group, which includes The Observer and its sister paper The Guardian, said the sale to Tortoise Media was expected to be signed in December.


The Scott Trust said it would invest in Tortoise Media, becoming a key shareholder, and take a seat on both its editorial and commercial boards.


Tortoise has also committed to safeguarding journalistic freedom and the editorial independence of The Observer, undertaking to honor the “liberal values and journalistic standards” of the Scott Trust in its editorial code.


Tortoise was launched in 2019 by James Harding, a former editor of The London Times and director of news at the BBC, and the former U.S. ambassador to London, Matthew Barzun.


Harding said The Observer name represents “the best of liberal, pioneering journalism,” and promised readers that “we will do all we can to live up to its history as a defender of human dignity and to give it a new lease of life as a powerful, progressive voice in the world.”


Ole Jacob Sunde, who chairs the Scott Trust, said The Observer needed “an ally to be sufficiently funded, long-term in nature, and respect editorial independence and liberal values.”


Journalists at both The Guardian, which publishes print editions between Monday and Saturday and has a deep digital footprint around the world, and The Observer, have protested the sale and went on a 48-hour strike.


Giao Pacey, a partner at media and entertainment law firm Simkins LLP, said The Observer’s new leadership will have to be careful in safeguarding the value of the newspaper, which is intrinsically linked to its brand, established over centuries.


“Once the sale is completed, the leadership team will need to strike the right balance between preserving the legacy, culture, and integrity of the business while ensuring that it has sufficient resources and support to thrive in a rapidly evolving market,” said Pacey.


This article was provided by The Associated Press.


Viewpoint Discussion

Enjoy a discussion with your tutor.

Discussion A

  • The sale of The Observer was approved despite two days of strike action from journalists. Do you think it matters who owns a newspaper? Why or why not? How do you think new ownership can impact the trustworthiness of a media company? Discuss.
  • In your opinion, how does the trustworthiness of a newspaper affect its readers? What makes you trust and distrust a media company? Discuss.

Discussion B

  • How do you think new owners can honor the history of a brand while making it more modern? In your opinion, should preserving legacy always be a priority, or should businesses focus on adapting to the future? Why? Discuss.
  • Why do you think newspapers with long histories, like The Observer, are important in today’s world? In your opinion, should historical significance affect how businesses decide to sell or change ownership? Why or why not? Discuss.