Worry on journalism and democracy in the UK

 

The article "Tortoise and the Heir: The 'Slow News' Media Firm Behind the Observer Sale and the Curious Company It Keeps" by Carole Cadwalladr, published in Byline Times on 18 December 2024, delves into the recent acquisition of The Observer by Tortoise Media and examines the backgrounds and affiliations of Tortoise's key investors.

Key Points:

• Acquisition Details: The Scott Trust, owner of The Guardian and The Observer, has agreed to transfer ownership of The Observer to Tortoise Media. This arrangement involves the Scott Trust providing a £5 million cash payment to Tortoise, supplementing the £20 million that Tortoise has already raised for the integration of the two newsrooms. 

• Investor Profiles: Tortoise Media, co-founded by former BBC News Director James Harding, is financially backed by several prominent figures, including: 

  • Matthew Barzun: A former U.S. Ambassador to the UK and Sweden, Barzun is a significant investor in Tortoise Media. 

  • Alexander Nix: Former CEO of Cambridge Analytica, Nix's involvement raises questions due to the company's controversial data practices.

  • Lord Rothschild: A member of the influential Rothschild banking family, his investment links Tortoise to longstanding financial power structures.

• Editorial Concerns: The sale has sparked apprehension among Observer journalists and media analysts regarding potential shifts in editorial direction and the preservation of the newspaper's journalistic independence. The involvement of investors with backgrounds in data analytics and political consulting intensifies these concerns.

• Industry Context: This transaction occurs amid a challenging landscape for traditional print media, with outlets seeking innovative business models and investment to remain viable in the digital era. Tortoise Media's "slow news" approach, emphasising in-depth journalism over rapid news cycles, represents one such model.

 The article underscores the complexities and potential implications of The Observer's acquisition by Tortoise Media, highlighting the need for vigilance in maintaining journalistic standards and independence in an evolving media environment.

According to the article, the sale primarily affects The Observer, not The Guardian. However, there are potential implications for the broader media ecosystem managed by the Scott Trust. Here’s a breakdown:

• Impact on The Observer: The transfer of ownership to Tortoise Media directly impacts The Observer. The integration of its newsroom with Tortoise's operations raises concerns about shifts in editorial policy, journalistic independence, and long-term strategy.

• Limited Immediate Effect on The Guardian: The article does not suggest any immediate operational changes for The Guardian. However, as The Observer has traditionally shared resources and strategies with The Guardian, any changes in The Observer's direction could indirectly influence The Guardian, especially if the Scott Trust uses this deal as a test case for future adaptations.

• Symbolic and Strategic Repercussions: The deal might reflect broader challenges facing the Scott Trust and its ability to sustain traditional journalism, which could eventually shape decisions about The Guardian’s strategy and independence.