Al-Fayed’s Liberty Media has increased its bid for the Observer newspaper by £10m to £25m.
An earlier bid from Liberty had been rejected by the Scott Trust which owns the paper. Although the new bid puts the Observer under more pressure to sell, Editor-in-Chief Peter Preston continues to maintain that the paper is not for sale.
The Observer has had a steadily declining readership, with the latest ABC showing a drop of 12,000 (Newsline 11/03).
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