Guardian Media Group
Media and PR
Guardian Media Group 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.
The company was founded as the Manchester Guardian Ltd. in 1907 when C. P. Scott bought the Manchester Guardian (founded in 1821) from the estate of his cousin Edward Taylor.
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.
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Guardian making more than £25m from members and digital subscribers, but ad income down £11m this year
In a letter to readers, Guardian editor Katharine Viner also revealed that advertising income (print and digital) is down £11m this year. The Guardian financial year runs to the end of March. Last year Guardian Media Group reported a trading loss of ...
Guardian to press ahead with compulsory redundancies for first time amid continued losses
The owner of The Guardian and The Observer newspapers is to make compulsory redundancies for the first time in its history as management attempts to stem years of financial losses. The newspaper's proprietor, Guardian Media Group, has told its 1,500 ...
Guardian staff braces for more job cuts as part of break-even plan
Guardian staff warned to expect more redundancies due to 'seismic changes in our industry'
Guardian newspaper publisher tells staff to expect redundancies as it seeks to break even