More speculation for Emap
Another day arrives and more speculative newspaper reports suggest joint bids are being created to take over the assets of Emap. The Guardian is in talks with Apax Partners about launching £2bn joint bid, reports the Telegraph, whilst other stories would have you believe Global Radio will take all.
The Telegraph says: "Talks between Apax and Guardian Media Group (GMG) are at an early stage. No formal agreement has been struck to bid together."
Last year, GMG sold 49 per cent of Auto Trader to Apax so they are no strangers at working together.
Earlier this month, GMG chief executive Carolyn McCall said she would actively pursue acquisition opportunities and was keeping an "open mind" about which UK opportunities to target. "They have a lot of interesting assets," McCall said, adding that: "We would not buy the whole of Emap, but there are parts we will certainly be looking at."
Just last week a report in the Financial Mail suggested GCap Media are also putting together a bid.
Emap are still operating without a chief executive after Tom Moloney [link=https://radiotoday.co.uk/news.php?extend.1965]'stepped down' [/link]in May.
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