| MUMBAI:
The world’s oldest Sunday newspaper, The Observer, may close down as losses
mount. Parent company Guardian Media Group (GMG), which is on a cost-cutting drive,
is considering such a proposal. Members
of the Scott Trust, the charitable foundation that owns GMG, discussed the closure
plan on 6 July. The paper may be replaced by an Observer-branded Thursday news
magazine. A
decision is expected at a trust meeting next month after GMG announced it had
racked up a pre-tax loss of £89.8million for the year against a £306.4
million profit last year.
Founded in 1791, The Observer was a platform for the early writing of George Orwell.
It was bought in 1993 by the publishers of The Guardian. The
Observer, it is said, does not fit into The Guardian's new strategy of turning
into the world's strongest online "liberal" brand. | 
