Following recent speculation about the future of Guardian News and Media’s Sunday title, the Observer, City A.M. reports that Capital Ideas, an investment group, has put in a bid for the paper.
The move to buy the Observer for a ‘nominal sum’ would see the title turned into a weekly news magazine and website, with fewer staff, if successful.
Capital Ideas already owns trade titles Compliance and Investing for Growth.
- Staff to be briefed on Observer’s future tomorrow, says Sunday Times
- Press Gazette: Rusbridger says integration of Guardian and Observer will ‘unlock creativity’ of staff
- FT.com: GNM considers Observer’s future in digital age
- Observer to drop to four sections staff told
- Update: Internal memo says Observer closure ‘actively being considered’