Take-over upsets
NZPA London Workers on Britain’s oldest Sunday newspaper, the “Observer,” were yesterday considering their future after the sudden take-over the previous evening by ’Tiny” Rowland’s Lonrho group. Journalists were taken by surprise by the deal which is thought to be worth about $l5 million. They were given only two hours notice before the news was released officially. The editor, Donald Trelford, told them that the server’s” owners, the American oil group, Atlantic Richfield, had agreed to ex-
change the paper, founded in' 1791, for a 40 per cent stake ! in the Scottish publishers. ! George Outram and Com-' pany, a Lonrho subsidiary. Outram’s, publishers in Glasgow of the “Herald” and “Evening Times,’’ form a, i part of the Lonrho offshoot*] Scottish and Universal In-] vestments, and is regarded] as one of the most advanced i computerised printing operations in Europe. Lonrho’s deputy chairman. j Sir George Bolton, said yesterday that the “Observer” would continue to be; printed in London for at least the next six months.
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Press, 27 February 1981, Page 6
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167Take-over upsets Press, 27 February 1981, Page 6
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