The Financial Times isn’t the only site reporting on the future of the Observer, which according to inside sources could cease publication in its current format.
Roy Greenslade has a round-up of the speculation here (no inside track from the Guardian blogger, however, he says).
According to an FT source, Observer staff discovered a secret mock-up of a weekly news magazine carrying the title’s branding.
Last week owners Guardian News & Media reported a pre-tax loss of £89.9 million for 2008-9.
“They [GNM] came up with a similar plan to close us down five years ago, and it was fought off. This time it seems to be couched in terms of saving The Guardian, so you have to think it is much more serious,” a ‘senior Observer journalist’ told the FT.