Guardian May Shut Sunday Observer After 218 Years

By Jason Farago,  Newser Staff
Posted Aug 2, 2009 5:36 AM CDT
Guardian Media's new offices in Kings Place, London. The group may shut the Observer, its Sunday newspaper.   (©markhillary)
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(Newser) – The British media group that publishes the Guardian is considering closing its sister Sunday paper, the Observer, which has been in print since 1791. The Guardian Media Group reported a pre-tax annual loss of nearly $150 million. Possible futures for the Observer include an Observer-branded magazine. It's "50/50 whether we are headed for the magazine, or for cuts but keeping the paper," said a source.