Guardian Media Group

For the American media company, Guardian Enterprise Group, see .2 Network.
Guardian Media Group plc
Public limited company
Industry Media
Founded 1907 (Manchester Guardian)
1993 (Guardian Media Group plc)
Founder C. P. Scott
Headquarters London, England, Greater London, United Kingdom
Area served
 England, Wales
Key people
 Amelia Fawcett
Andrew Miller
Alan Rusbridger
Products Newspapers, broadcasting, websites
Revenue £254.4 million
Owner Scott Trust Limited
Divisions Guardian News & Media
Top Right Group (formerly Emap)
GMG Property Services Group
Website www.theguardian.com/gmg

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.

History

The company was founded as the Manchester Guardian Ltd in 1907 when C. P. Scott bought the Manchester Guardian (founded in 1821)[1] 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.[2]

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.[3] 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.[4]

In January 2014, GMG disposed of its remaining interest in Trader Media Group.[5]

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.[6] 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.[7]

Group structure

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.[8] They comprise:

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,[9] but in the 2011/12 year the group lost £75.6 million,[10] 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.[11]

Corporate governance

Board of directors

The board of directors are:[12]

Executive committee

References

  1. ↑ "History | Guardian Media Group PLC". Gmgplc.co.uk. Retrieved 2013-10-25.
  2. ↑ Mark Sweney. "Emap confirms B2B sale to GMG and Apax". the Guardian.
  3. ↑ "Manchester Evening News sold by Guardian Media Group". Manchester Evening News. 2010-02-09. Retrieved 2010-02-09.
  4. ↑ "Global Radio acquires GMG Radio | Guardian Media Group PLC". Gmgplc.co.uk. 2012-06-25. Retrieved 2013-10-25.
  5. ↑ "Guardian Media Group to divest holding in Trader Media". gmgplc.co.uk. 2014-01-21. Retrieved 2014-01-25.
  6. ↑ Davies, Caroline (23 March 2010). "Guardian group chief executive Carolyn McCall to join easyJet". The Guardian. Retrieved 12 December 2015.
  7. ↑ Sweney, Mark (18 June 2015). "Guardian Media Group appoints David Pemsel as chief executive". The Guardian. Retrieved 12 December 2015.
  8. ↑ "Our investments | Guardian Media Group PLC". Gmgplc.co.uk. Retrieved 2013-10-25.
  9. ↑ "The Scott Trust - The Guardian". the Guardian.
  10. ↑ "Guardian Media Group plc (GMG) announces full-year results for 2011/2012". the Guardian.
  11. ↑ "Can The Guardian Survive?". More Intelligent Life. Retrieved 2013-10-25.
  12. ↑ "GMG board". Guardian News and Media. 23 July 2015. Retrieved 28 January 2016.

External links

This article is issued from Wikipedia - version of the Thursday, January 28, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.