Guardian in Talks to Sell the Observer to UK’s Tortoise Media

The UK’s Guardian Media Group is in talks to sell the Observer, the world’s oldest Sunday newspaper, to online news startup Tortoise Media.

Tortoise has agreed to invest £25 million ($33.1 million) over the next five years in the British title, and to keep publishing a print edition of the approximately 230-year-old paper if the deal goes ahead, the digital news group said in an article on its website.

The negotiations are ongoing and the details remain “commercially sensitive,” the Guardian said in a separate post on its site.

Established British publications, sometimes more than a century old, hold value ...