Britain’s Guardian Media Group is paying £572 million ($925m; €811m) to take over the owner of car title AutoTrader.
GMG – publisher of national newspapers The Guardian and The Observer – is purchasing the 52% of Trader Media Group it does not already hold from venture capitalist BC Partners.
AutoTrader boasts a weekly circulation of 340,000 plus Europe’s most-visited auto website. TMG owns a total of 70 publications.
GMG’s chief executive Bob Phillis vowed to use the profits from TMG to secure the editorial independence of the group’s two national papers.
Data sourced from: BrandRepublic (UK); additional content by WARC staff