GMG Radio sale speculation
The Sunday papers are once again speculating about the Guardian Media Group selling its radio stations.
Richard Wachman, City editor of The Observer writes: It is believed that a number of City banks have been approached, including UBS, but it could take several weeks before GMG decides which financial adviser to appoint. Whoever gets the job will be mandated to look at all the available options for Auto Trader and GMG’s other non-national newspaper interests which span radio, magazines and regional newspapers.
Whilst the sale of the radio division is not impossible, company officials were predicting that the most likely outcome would be the disposal of Trader Media, a unit that houses Auto Trader and more than 60 other magazine titles.
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