Sad story by Dominic O’Connell in the Sunday Times
August 2, 2008
Guardian Media Group plots closure of Observer newspaper
August 2, 2008
Guardian Media Group plots closure of Observer newspaper
The Guardian Media Group (GMG) is considering closing The Observer, the world’s oldest Sunday newspaper, as part of a cost-cutting drive triggered by a drastic plunge in the group’s finances.
Members of the Scott Trust, the charitable foundation that owns GMG, discussed the plan on July 6. They were shown trial copies of an Observer-branded news magazine that would replace the paper and be published on a Thursday.
After opposition from some trust members, thought to include Larry Elliott, who represents journalists of both papers on the board, GMG executives agreed to put the scheme on hold while an alternative was worked out.
This would keep The Observer as a Sunday newspaper but heavily slimmed down. Insiders now expect a decision at a trust meeting next month.
GMG declined to comment, as did members of the Scott Trust approached by The Sunday Times, including Dame Liz Forgan, its chairwoman.
Sources at The Observer said that rumours about the newspaper’s future had circulated for several weeks, as had stories of disagreements at the Scott Trust over the plan. “At the moment, I would say it is 50:50 whether we are headed for the magazine, or for job losses and cost-cuts but keeping the paper,” said one senior source.
Closure of The Observer would bring an end to a 218-year publishing era. It was set up in 1791 by WS Bourne, and its editors have included David Astor and Donald Trelford. It reached a peak circulation of 1.3m copies in 1979, but now hovers at about 400,000 a week.
Members of the Scott Trust, the charitable foundation that owns GMG, discussed the plan on July 6. They were shown trial copies of an Observer-branded news magazine that would replace the paper and be published on a Thursday.
After opposition from some trust members, thought to include Larry Elliott, who represents journalists of both papers on the board, GMG executives agreed to put the scheme on hold while an alternative was worked out.
This would keep The Observer as a Sunday newspaper but heavily slimmed down. Insiders now expect a decision at a trust meeting next month.
GMG declined to comment, as did members of the Scott Trust approached by The Sunday Times, including Dame Liz Forgan, its chairwoman.
Sources at The Observer said that rumours about the newspaper’s future had circulated for several weeks, as had stories of disagreements at the Scott Trust over the plan. “At the moment, I would say it is 50:50 whether we are headed for the magazine, or for job losses and cost-cuts but keeping the paper,” said one senior source.
Closure of The Observer would bring an end to a 218-year publishing era. It was set up in 1791 by WS Bourne, and its editors have included David Astor and Donald Trelford. It reached a peak circulation of 1.3m copies in 1979, but now hovers at about 400,000 a week.
The full piece at the Sunday Times.
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