Observer Set To Be Sold To Slow News, Low-Readership, No Profit Publisher
Sky News reports that Guardian Media Group is in talks to sell The Observer to ‘slow news’ outlet Tortoise Media. GMG chief executive Anna Bateson says this is “an exciting strategic opportunity.” An opportunity to offload…
Liberal media supremo James Harding has championed his “centrist dad media” brand with the help of BBC, the left-wing broadsheets, and millions in initial funding over the course of its 2019 launch. Five years later Tortoise Media has a £4.6 million annual operating loss to show for it, which is up £1.5 million from the year before. On the bright side, not as bad as GMG’s £21 million loss…
According to analytics data from SimilarWeb, Tortoise is struggling to get consumers to read its drawling long-form content, either. Over the last 90 days this is how they have done in terms of reader visits, which Guido has handily compared with another not-for-profit online outlet also founded to do more highbrow journalism:
From July to August alone Tortoise’s traffic dropped by a whopping 41%, and it is now attracting fewer than 500,000 monthly unique visitors. Audiences are hardly crying out for boring, long-winded centrist content…
The Observer is beaten to the bottom of print circulation only by The Guardian. Birds of a feather flock together…
