Guardian Media Group
Guardian Media Group plc (GMG) is a British mass media company owning various media operations including The Guardian and The Observer. The group is wholly owned by Scott Trust Limited, which exists to secure the financial and editorial independence of The Guardian in perpetuity.
|Public limited company|
1993 (Guardian Media Group plc)
|Founder||C. P. Scott|
|Headquarters||London, England, Greater London, United Kingdom|
|Products||Newspapers, broadcasting, websites|
|Owner||Scott Trust Limited|
|Divisions||Guardian News & Media
Top Right Group (formerly Emap)
GMG Property Services Group
It became the Manchester Guardian and Evening News Ltd when it bought out the Manchester Evening News in 1924, later becoming the Guardian and Manchester Evening News Ltd to reflect the change in the morning paper's title. It adopted its current name in 1993.
In March 2007 GMG sold 49.9% of Trader Media Group to Apax Partners, in a deal that valued Trader Media Group at £1.35 billion. In December 2007 it was announced that GMG and Apax had made a successful bid to buy Emap's business-to-business arm for around £1 billion.
In February 2010, the group sold its GMG Regional Media division (consisting of two companies MEN Media and S&B Media which operated 31 local and regional newspaper titles) to Trinity Mirror for £44.8 million. The sale ended the historic connection between The Guardian and Manchester as the sale of the Manchester Evening News was included in the package. The division's local television station for Greater Manchester, Channel M, and two newspapers in Woking were not included in the sale.
In June 2012, Global Radio acquired GMG Radio from Guardian Media Group plc.
In January 2014, GMG disposed of its remaining interest in Trader Media Group.
Carolyn McCall was the chief executive of Guardian Media Group and chair of Guardian News and Media Limited from 2006 until June 2010, when she was appointed chief executive of EasyJet. Andrew Miller, previously the chief financial officer of the Group, was chief executive from July 2010 to 2015. David Pemsel took his place in 2015.
In October 2017, THE Guardian Media Group to launch new £42 million venture capital fund.
GMG’s core business is Guardian News & Media Limited, publisher of theguardian.com, and The Guardian and The Observer newspapers.
The group has a portfolio of investments to help support its journalism. They comprise:
- Ascential: an international business-to-business digital intelligence and events business.
- GMG Property Services: a provider of software, technology and design solutions to the property industry.
- An externally managed investment fund.
Guardian Media Group exists to support the core purpose of its owner, Scott Trust Limited: to secure the financial and editorial independence of The Guardian in perpetuity, but in the 2011/12 year the group lost £75.6 million, and for the three years up to June 2012, the paper itself lost £100,000 a day - leading Intelligent Life magazine to question whether The Guardian can survive.
Board of directorsEdit
The board of directors are:
- "History | Guardian Media Group PLC". Gmgplc.co.uk. Retrieved 2013-10-25.
- Mark Sweney. "Emap confirms B2B sale to GMG and Apax". the Guardian.
- "Manchester Evening News sold by Guardian Media Group". Manchester Evening News. 2010-02-09. Archived from the original on 2012-09-09. Retrieved 2010-02-09.
- "Global Radio acquires GMG Radio | Guardian Media Group PLC". Gmgplc.co.uk. 2012-06-25. Retrieved 2013-10-25.
- "Guardian Media Group to divest holding in Trader Media". gmgplc.co.uk. 2014-01-21. Retrieved 2014-01-25.
- Davies, Caroline (23 March 2010). "Guardian group chief executive Carolyn McCall to join easyJet". The Guardian. Retrieved 12 December 2015.
- Sweney, Mark (18 June 2015). "Guardian Media Group appoints David Pemsel as chief executive". The Guardian. Retrieved 12 December 2015.
- "The Guardian turns venture capitalist in hunt for new income". The Telegraph. 18 October 2017.
- "Our investments | Guardian Media Group PLC". Gmgplc.co.uk. Retrieved 2013-10-25.
- "The Scott Trust - The Guardian". the Guardian.
- "Guardian Media Group plc (GMG) announces full-year results for 2011/2012". the Guardian.
- "Can The Guardian Survive?". More Intelligent Life. Retrieved 2013-10-25.
- "GMG board". Guardian News and Media. 23 July 2015. Retrieved 28 January 2016.