Capital Ideas to buy the Observer?

Rumour's abound about the Observer which according to some sources is now about to be sold to investment group Capital Ideas.

Not a particually good idea thinks the Indy's Ian Burrell

Capital Ideas consultant Renwick Haddow has told City AM that its plans would involve cutting down the number of staff and turning the 'Obs' into a weekend review in the style of The Week, a publication that is not known for doing original journalism. What a sad fate that would be for a maverick paper with a fine tradition of investigations, breaking stories and publishing the criticism and analysis of writers as famous as George Orwell, Conor Cruise O'Brien and Clive James.