History
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. Its previous chief executive was Carolyn McCall, formerly Chief Executive of Guardian News and Media Limited and a former non-executive director of Tesco and chair of Opportunity Now. McCall left in June 2010 after being appointed Chief Executive of EasyJet. She was replaced by Andrew Miller in July 2010, who had previously been Chief Financial Officer of the Group.
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 the Manchester Evening News. 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.
For the three years up to June 2012, the Group lost £100,000 a day, which prompted Intelligent Life (magazine) to question whether the Guardian can survive.
Read more about this topic: Guardian Media Group
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