guardian media group
what businesses does guardian media group own? the core business of gmg is guardian news & media. the group also owns a number of investments .
david pemsel has been appointed chief executive of guardian media group. photograph: sarah lee / guardian
latest marketing and advertising news for guardian media group, including insights and opinions .
guardian media group, the publisher of the guardian, has sold its stake in trader media group to apax partners for around £600m to bankroll its loss - making newspapers and website .
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guardian media group plc (gmg) publishes its financial statements detailing the group’s financial performance and that of its subsidiary companies (such as the core business guardian news & media limited), joint venture top right group and associates. the gmg group accounts are prepared in accordance with international financial reporting standards (ifrs) .
executive to leave guardian group after 24 years to lead airline. by mark sweney
despite turbulent trading conditions and advertising volatility across the media sector, guardian media group reported revenues of £214. 5m, up 2% on the previous year, as the guardian continued to strengthen its relationship with its readers and saw good growth from guardian us and guardian australia .
revenue including share of joint venture companies trader media group and top right group (formerly emap) £466. 7m (2011 £466. 1 million )
carolyn mccall, the chief executive of the guardian media group, is poised to leave the company to become chief executive of easyjet .
david pemsel was appointed ceo, guardian media group (gmg) in july 2015 with responsibility for leading gmg’s commercial and financial business strategy .
ebita, before exceptional items, including share of joint venture companies trader media group and top right group £48. 4 million (2011 £49. 6 million )
at guardian media group (gmg), securing a sustainable future for quality journalism has been our number one priority during the last year .
© 2018 guardian news and media limited or its affiliated companies. all rights reserved .
© carnyx group ltd 2018 | the drum is a registered trademark and property of carnyx group limited. all rights reserved .
emap has confirmed it has sold its business - to - business magazine and events arm to guardian media group and private equity firm apax for around £1bn .
what are the values of the trust and company? the trust has a strongly held set of values which guide the business conduct of guardian media group .
the scott trust was formed in 1936, but the history of the trust and guardian media group began more than a century earlier with the launch of the manchester guardian on may 5, 1821 .
pemsel, currently deputy chief executive of guardian news & media, the publisher of the guardian and observer newspapers, succeeds andrew miller .
the guardian is on track to achieve the aim of the plan, to break even at an ebitda level by 2018 / 19, and for the guardian media group to become financially sustainable in perpetuity .
richard johnstone needs your help with “ the board of directors at guardian media group: katherine viner must resign as editor - in - chief at the guardian ”. join richard and 33 supporters today .
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guardian media group (gmg) is amongst the uk’s leading media organisations. its core business is guardian news & media (gnm), publisher of theguardian. com, one of the largest english - speaking quality newspaper websites in the world. in the uk, gnm publishes the guardian newspaper six days a week and the world’s oldest sunday newspaper, the observer .
what is the relationship between guardian media group and the guardian? gmg is the parent company of the guardian. however, editorially the guardian is completely independent from the commercial entity that owns it. the editor - in - chief is appointed by and reports directly to the scott trust, not the board of gmg .
guardian news and media will allow advertisers to tap into trending topics in real - time with ...
“this set of results are a testament to the hard work of the management team and of everyone at guardian media group. there is much to do, but the strategy is on track .
anna is chief customer officer of guardian news & media (gnm). she is responsible for the guardian’s membership, subscription and contributions programmes, partnerships with technology businesses including google and facebook, syndication and licensing, and other consumer revenues including the guardian’s live events. she also oversees the guardian brand and all guardian marketing .
guardian media group has completed the first year of a three - year transformation plan to increase revenues by building deeper relationships with readers, align its advertising business to market growth, and reduce costs .
other media organisations don’t go as far as kelner, but one senior figure, who sits on the board of a major company, says: “i think they [ the guardian ] are not immune to the possibility that the objectives of the guardian media group as a whole are influencing the attitudes and tone of their journalists. ”
described by management today as
one of the toughest operators to have risen through the guardian media group' s ranks
mccall, a mother - of - three, started her career at the guardian in 1986 as a research planner, moving quickly into sales .
guardian media group said total revenues increased by 2. 4% to £214. 5m in the year to 2 april, thanks to the popularity of its membership scheme, one - off contributions and growth in international operations .
the newspaper' s proprietor, guardian media group, has told its 1, 500 staff that some of their jobs will be lost as part of its plans for the second year of its three - year turnaround plan .
on 13 june, the guardian announced plans to move the guardian and observer print titles to tabloid format, from early 2018 .
– trader media group: one of europe' s largest specialist media companies, and publisher of the auto trader website and magazine. trader media group is jointly owned by gmg and apax partners. – top right group (formerly emap): a leading international business - to - business digital intelligence and events business, also jointly owned by gmg and apax partners. – gmg property services: the leading provider of software, technology and design solutions to the property industry. – an externally managed investment fund .
gmg has also built an endowment fund, which includes the proceeds from the 2014 disposal of its 50. 1% holding in trader media group. ‎the sole purpose of the fund is to secure the editorial independence and financial security of the guardian in perpetuity. the business conduct of the group is guided by the scott trust values .
we are an independent charity which supports media under threat, promotes diversity in the media and empowers children and young people to engage with the news .
3. 20 widen the scope of the rules to take account of cross - media ownership across all mediaperhaps looking at share of voice and revenues (especially advertising) across all media, to ensure that organisations like google or news corp cannot acquire too big a share of voice across all media .
9am (bst) 25 july 2017, london: guardian media group (gmg) – publisher of the guardian and the observer newspapers and theguardian. com, one of the largest english - speaking quality newspaper websites in the world – today announced financial results for the 12 months to 2 april, 2017 .
group revenues surpass £300m for the first time in our history. fy 14 group revenues were £312. 7m and adjusted ebitda was £85. 3m, up from £271. 4m and £69m respectively in fy13
prior to joining gnm, david worked in many senior roles within the media industry, including launching shine entertainment in 2000, before becoming group marketing director of itv plc in 2005 .
the tesco writ made a reference to guardian media group' s purchase of emap plc in partnership with apax and sought to make parallels with its property deals. ian griffiths and felicity lawrence set out below the details of the deal and the tax consequences
or in the day - to - day editorial control of news and content, nor do the board of guardian media group plc. the day - to - day editorial control of news content is the sole responsibility of the editor and his staff .
katharine viner is editor - in - chief of the guardian, a position she has held since june 2015. she joined the guardian as a writer in 1997. she was appointed deputy editor of the guardian in 2008; launched the award - winning guardian australia in 2013; and was also editor of guardian us, based in new york .
katharine viner joined the guardian as a writer in 1997 and has since undertaken numerous roles, including editor of weekend magazine, features editor, and saturday editor. she was appointed deputy editor of the guardian in 2008; launched the award - winning guardian australia in 2013; and was most recently editor - in - chief of guardian us. she became editor - in - chief of guardian news & media in june 2015 .
but the idea of a knuckleduster at the heart of the guardian is oddly appropriate. a growing number of other media companies are asking questions about how the paper and its parent company, guardian media group (gmg), are using their editorial and corporate influence. these critics include not only the independent, which has become increasingly angry about its rival, but also senior figures at channel 4 and itv .
3. 21 raise, however, the current thresholds for cross - media ownership to ensure that cross - media efficiencies can be harnessed on behalf of the consumer .
gmg and apax already have close working ties after the private equity firm paid £650m for a 49% stake in trader media group, the gmg subsidiary that includes the classified advertising magazine auto trader .
zach is the chief digital officer of guardian news & media (gnm). he is responsible for all aspects of the guardian’s digital products, enterprise systems and technology strategies, including the development and evolution of the guardian’s core products - from urltoken and the award - winning apps to its content management systems .
trader media reported pre - tax profits last year of £32m on revenues of £252m .
evelyn webster joined guardian news & media (gnm) in january 2017 as the interim chief executive officer (ceo) of guardian us. she was appointed as ceo of guardian us & australia in 2018. in this role evelyn is responsible for leading the commercial and operations teams, working closely with useditor john mulholland .
joined the board in 2014 and is chair of the remuneration committee. jennifer is currently a non - executive director at mitie and council member for the royal college of art. prior to that she was executive vice president of people at arm, group people and culture director for six years at ubm plc and group human resources director for an international media and marketing services group emap plc. her earlier career was in management consultancy and banking .
it has, by any standards, been a remarkable year for gmg. the group' s strategy is to use its portfolio of assets to support the guardian while we go through the tumultuous period that the media industry is experiencing. this gives us the huge advantage of being able to navigate our core business, guardian news & media (gnm) through these challenging times at a pace and within a timeframe that reflects the needs of the business .
the number of guardian’s paying members increased from 50, 000 to more than 230, 000 in the last financial year. photograph: sarah lee for the guardian
, which was established in 1936 to secure the ongoing independence of the guardian .
reader relationships: at the end of 2016 - 17, guardian news & media (gnm) had more than 400, 000 regular paying members and subscribers to our print and digital products. more people are paying for guardian journalism than ever before .
powerful media companies can be properly considered. currently, the framework focuses on
traditional media
, meaning that some types of organisation could fall outside its scope. the table below gives some examples of the consequences of the current regulatory framework for cross - media ownership and activity :
it is important not to exaggerate the anxiety about the guardian and gmg. as one senior media figure points out: “one should not get paranoid. in many respects the guardian does a good job. ” indeed, all of the executives interviewed for this article recognise it is right that they face media scrutiny. but given that one newspaper has such a dominant role, they think it only fair to ask: who guards the guardian ?
in a significant move towards securing gmg’s long - term future, the value of the group’s investments and cash holdings has risen to £1. 03 billion. this was due to a 20. 6% increase in the value of the guardian’s long term endowment fund and the sale of gmg’s 22. 4% stake in ascential plc, the international business - to - business media and events group, for a gross consideration of £239m .
gmg’s relationship with apax has been controversial. the publisher was accused of hypocrisy on tax for using an offshore structure in the caymans to buy the magazine and events group emap, now rebranded top right group, in another joint venture with the private equity firm .
exists to create public value, not private gain. its unique ownership structure means that the wider guardian media group does not seek profit for the financial benefit of its owners or shareholders, but to sustain journalism that is free from commercial or political interference, and to uphold a set of values laid down by our former guardian editor, cp scott, and now enshrined as the scott trust values .
hamish nicklin is the chief revenue officer of guardian news and media. he is responsible for driving operational and strategic direction across the media, jobs and labs businesses. hamish also has responsibility for building long - term, sustainable business relationships directly with clients and agencies across the globe .
richard is the chief financial officer of guardian media group (gmg). richard is responsible for the financial stewardship and efficient operational management of the business together with helping shape the strategic direction and improving the performance of the group. he is a member of the executive committee (exco) and the gmg board. richard manages the finance function, investment fund and newspaper publishing business as well as central functions including legal, risk, facilities, and company secretarial .
apax already owns incisive media, which publishes b2b titles including computing, legal week and insurance age .
gmg has continued to implement the three - year plan launched by david pemsel, ceo, and katharine viner, editor - in - chief of guardian news & media, in january 2016 .
im group and bluevenn create a coordinated national marketing solution for subaru dealerships nationally across the uk resulting in improved test drives and car purchases .
“david has been a key architect of gnm’s commercial success, digital strategy and international expansion, ” said neil berkett, chairman of guardian media group. “i am therefore delighted that he is now stepping up to the top job, unquestionably one of the most demanding and exciting roles in the media industry. i know that he will build on the strong strategic platform put in place by andrew miller, who has done an outstanding job as chief executive” .
guardian journalism goes from strength to strength. it' s just our shape that' s changing
audience / readership: more than 140 million monthly unique browsers consistently engage with guardian journalism online .
guardian’s editor - in - chief alan rusbridger reveals raft of senior management changes across ...
the guardian media group (gmg) said it had reduced losses before tax to £200, 000 in the year to 2 april from £173m in the same period a year earlier. total revenue hit £214m, up 2. 4 per cent from the previous year. digital revenues rose by 15 per cent to £94. 1m from £81. 9m .
mail & guardian online owners originally a separate division of the mail & guardian. in 1997 a 65% share was sold to internet service provider mweb, but then bought back in 2008 by trevor ncube' s m & g; media, the company that publishes the m & g; newspaper .
joined the scott trust in 2016. he is currently financial editor of the guardian. nils joined the guardian in 2003, and was appointed to the scott trust board as journalist director in 2016 .
guardian media group, the parent company of the guardian newspaper, has used an offshore structure to complete its acquisition of emap' s trade magazine and events interests, in partnership with the private equity firm apax partners. the deal, completed march 20, 2008, involved gmg incorporating a new company in the tax haven of the cayman islands and integrating it with an existing network of cayman companies set up at the same time by the private equity firm .
1. 2 as news consumption is increasingly a cross - media activity, we have considered the impact of these regulations across the whole media sector, with a specific, separate focus on national and regional / local effects .
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the board fully supports the strategy and transformation programme for our core business, guardian news & media (gnm), which chief executive officer andrew miller and his team are implementing with great skill and determination .
since 2016, the guardian has added 230, 000 new paying members, it said on tuesday .
the digital age puts customers in control, tesco ceo philip clarke says at guardian changing ...
the mail & guardian online previously known as em & g; and the daily mail & guardian. first cousin, once removed, to the mail & guardian. a pan - african daily online newspaper, published all day, all week, aimed at serious and not - so - serious readers .
“despite the challenging market conditions faced by all news organisations around the world, our three - year strategy is well on track to achieve its financial goals and to secure the future of the guardian, ” the group’s chief executive, david pemsel, said .
aligning advertising business with growth: group continues to refine and improve its advertising proposition, taking account of rapid changes in the print and digital advertising markets .
last year the group introduced a three - year plan to cut costs by 20 per cent, in its bid to break even by 2018 / 19 .
rank group achieve a centralized view of all its customers and prospects, to identify cross sell opportunities and optimize the marketing processes in each of its brands .
the company and the group are committed to high standards of corporate governance and the board is accountable to the company' s shareholders for good corporate governance .
jonathan joined the board on 15 may 2013 and became chairman of the audit committee in november 2013. he is also group finance director of close brothers group plc, joining in february 2008 and previously held the same position at the london stock exchange group plc since 1999. jonathan has also been a non - executive director of emap plc and chairman of ftse international. the early part of his career was at price waterhouse where he qualified as a chartered accountant .
david is a non - executive director of the british fashion council, a voting member of bafta and a council member of the marketing group of great britain .
gmg’s core business is urltoken and the guardian and observer newspapers. investments are undertaken to support and develop journalism
in addition he is chairman of gmg ventures, a $ 50m fund making early stage investments in innovative businesses in the media technology sector. he is also a member of the scott trust, the ultimate owner of the guardian .
cath keers joined the board on 1 july 2017. ms keers started her retail career with thorn emi and, after marketing and business development roles at sky tv, avon and next, joined the bt group in 1996, holding a number of commercial roles, including marketing director o2, chairman of tesco mobile and customer director o2. ms keers is a non - executive director of the royal mail group, talktalk telecom group plc and liverpool victoria friendly society limited (lv =) and is the chairman of ustwo; digital product and games studio. ms keers was a non - executive director of home retail group limited from september 2011 to september 2016 .
joined the scott trust in january 2013. she is professor of professional practice at the columbia university journalism school and director of the tow center for digital journalism at columbia’s graduate school of journalism. she was previously director of digital content for guardian news & media, editor - in - chief of guardian unlimited and business editor for the observer .
the guardian has campaigned against tax avoidance but gmg paid no stamp duty on the emap acquisition. it also took advantage of hmrc’s substantial shareholding exemption to avoid corporation tax on the profits from the 2008 trader media stake sale to apax .
mail & guardian owners originally owned by hundreds of small shareholders who bought small blocks of shares at r1 000 each, as part of a surge of' reader power' to respond to the death of the rand daily mail. in the early 1990s, the guardian newspaper group in london became the largest shareholder when it came to the rescue of the then - ailing company. in 2002, the guardian reduced its shareholding to 10% and sold the majority share at 87, 5% to zimbabwean media owner and entrepreneur trevor ncube. having relocated to south africa, ncube also took over as ceo of the company .
mccall was appointed chief executive of gmg and chair of guardian news and media in august 2006. she was first appointed to the gmg board in 2000, having served on the gnm board since 1995, becoming its chief executive in 2000 .
2. 2 the
plurality of media
provision is particularly important in sustaining a diverse, high - quality news ecology .
before joining gmg, richard was chief financial officer and acting chief executive officer of ubm emea, a division of ubm plc, a uk - listed ftse 250 media company. richard joined ubm in 2004 and was head of group development (from 2004 to 2008) responsible for all the group’s mergers and acquisitions, cfo and senior vice president, events & publications of ubm aviation (2008 - 11) and then cfo of ubm emea (formerly ubm live) from 2011 .
during her executive career she oversaw the move of the guardian from a broadsheet format to the berliner. she was active in the sale of a stake in trader media group to apax for £675m and acquired emap' s business - to - business titles alongside apax for £1bn. she was awarded the 2008 veuve clicquot business woman award, and is chair of opportunity now, which promotes change for women in the workplace .
james is the chief strategy officer at guardian news & media, responsible for strategy implementation and transformation. in his role james has overall responsibility for gnm’s 3 year change programme, working with the functional areas to ensure the business delivers on its priorities .
gmg is pleased to be offered the opportunity to comment on the current uk media ownership rules and the implications for provision of news .
despite operating at a loss, the group managed to increase its endowment fund to over £1bn, helped by selling off its stake in publishing company ascential, formerly known as emap .
emap communications is a strong business with a range of highly successful brands. the acquisition meets our requirements in terms of diversifying gmg' s media interests, in line with our commitment to guarantee the long - term financial security of the guardian .
the guardian foundation is a partner of the european press prize which annually salutes and encourages the highest achievements in european journalism .
all material © mail & guardian online. material may not be published or reproduced in any form without prior written permission .
3. 11 with news consumption increasingly becoming a cross - media activity, concerns about plurality of ownershipand, therefore, diversity of voiceshould cover all media. the current framework does not take sufficient account of the concentration of voice from any one organisation across all types of outlet .
it is true that gmg faces painful decisions of its own about staff numbers and budgets. the problem is unusual because the scott trust has a mandate to safeguard the guardian “in perpetuity”. this means there is a tension at the heart of gmg. guardian news and media (gnm), publisher of the guardian and the observer, lost £26. 4m last year but has so far been immune to compulsory redundancies. other parts of gmg, some of which are profitable, are having to axe staff .
it will also support the company’s international ambitions, which have already meant heavy investments in expansion in the united states and australia. andrew miller, chief executive of gmg, has also said he would like to enter the indian media market, as part of the left - leaning group’s quest to become “the world’s leading liberal voice” .
caspar llewellyn smith is the editor of the guardian’s digital platforms - principally the website, urltoken – and is also head of culture, another editorial role that involves responsibility for the guardian and the observer’s coverage of books, film, music and more .
apax' s sole financial adviser was jp morgan while gmg was advised on its exit from trader media by bank of america merrill lynch and freshfields bruckhaus deringer. it is ultimately owned by the scott trust, which was first set up in 1936 safeguard the guardian .
blair crump was appointed to the board on 1 january 2018 having joined sage in august 2016 in the newly - created position of president, leading on sales and customer service across the group .
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joined the board in february 2018. yasmin is a non - executive director on the boards of the royal bank of scotland ring - fenced bank entities, nation media group (east africa) and an independent panel member of the cabinet office major projects review group. during her executive career, yasmin held chief information officer roles at bupa and the financial times, where she became the chief operating officer. she previously had a career spanning nearly 20 years at abbey national plc, latterly serving as an executive director on the board .
2. 3 given the cross - media ownership rules inand derived fromthe communications act, we are concerned that
public interest
questions regarding plurality might be thought only to arise in merger situations involving tv, radio and newspaper assets. with consumption of news becoming an increasingly cross - media activity ,
public interest
considerations should apply explicitly to all media, including, for example, the internet, which may not currently be covered .
most media organisations are notoriously oversensitive about press criticism, of course. the woes facing these firms have been well documented beyond the guardian. and mediaguardian is bound to cause upset sometimes. in the past, the daily telegraph and daily mail have registered their anger. but it is also understandable that media companies are sensitive in a recession, which is happening just as business models are collapsing in the rush to the internet .
an attorney - at - law, frances bain - cumberbatch is the group corporate secretary and head of the legal department of the ansa mcal group. prior to joining the group, frances worked at j. d. sellier & co. as an advocate attorney - at - law. she gained invaluable practical knowledge and experience in several areas of law including intellectual property, corporate / commercial and industrial relations. she holds a ba double major in french and spanish from uwi, st. augustine, a llb from university of london and a legal education certificate from the sir hugh wooding law school .
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joined the scott trust in 2015. she is an independent journalism, media and technology advisor with over 20 years experience across the sector. previously she has held multiple high - profile media roles including head of news at twitter, general manager of urltoken and president and ceo of national public radio .
pemsel will work closely with katharine viner, who was appointed as the new editor - in - chief of the guardian in march .
one of the scott trust’s most crucial functions is to appoint the editor of the guardian, as well as that of the observer .
we are delighted to have secured the board' s recommendation for our joint offer with apax partners ,
said carolyn mccall, the chief executive of gmg, which publishes the guardian, observer and guardian unlimited network of websites, including mediaguardian. co. uk .
paul johnson is deputy editor of guardian news and media, and head of news, business and sport. as irish correspondent for the guardian he won awards for his reporting when the violence was at its height, before becoming news editor. he was a member of the teams which twice won the british press awards investigation of the year and has also received the front page of the year award at the british press awards .
he joined the group in 2007 as a project engineer at alstons building enterprises ltd (abel), and last serves in the position of general manager of abel building solutions prior to his move to standard .
4. 6 for example, in spain, the competition authority (servicio de defensa de la competencia) has expressed its frustration with having to investigate three complex, inter - related media competition issueshistorical dominance of the football rights market, cross - selling and rights acquisition collaboration without the necessary media expertise. [
the publisher of the guardian and observer has rarely, if ever, seen a year like 2011 / 12. the company embarked on a radical new strategy, its journalism reached record audiences and the revelations about phone hacking caused global shockwaves and had huge implications for british media, politics and policing .
he is more bullish about social media. “the thing that has changed fastest for us in the past three months”, he told me, “is facebook. it has made a vast difference. ” as part of its open policy, the guardian got into bed with facebook to try so - called frictionless sharing: if a reader who is signed into facebook reads something on the guardian site, the fact that they did so shows up in their facebook newsfeed, with a link. this irritates some users, but gives the guardian more young readers and a share of the revenue from any ads. “in the last week facebook has overtaken google for referrals. we’ve had 6m downloads of the facebook app, and it has rocket - charged traffic to guardian. co. uk. an audience of 18 - to - 25 - year - olds who would never have read the guardian in the past, are falling on guardian content. facebook are amazed by it, we’re suddenly on the facebook radar in a big way .
juan señor is a leading expert on newspapers, a spanish television reporter turned visiting fellow in news media at oxford university and partner at innovation media consulting, a firm which advises struggling papers. the remedies he prescribes—more explanation, stronger graphics, bolder features, full integration between print and web teams—look much like the medicine the guardian has taken of its own accord. but when he saw the three little pigs ad, he was unimpressed. “open journalism? ” he wrote in a tweet. “how about profitable journalism first. the guardian lost £33m last year and counting. muddled rhetoric, poor model to emulate. ”
mr. sabga holds a b. eng in civil engineering from the university of the west indies, and an executive mba from the arthur lok jack graduate school of business. he currently holds several directorships within the group .
the guardian foundation has teamed up with the learn2think foundation and the week junior to launch the first ever journalism competition for children aged 8 - 11 .
the publication belongs to m & g; media limited, which is majority owned by the international non - profit media development investment fund, together with ceo hoosain karjieker as the local empowerment partner. a 10% share is held by the m & g; staff share trust, and the remaining stakes are shared by minority shareholders .
aneal maharaj was appointed as the group finance director in february 2008. he is a fellow of the chartered association of certified accountants (fcca) and has over 25 years of experience in the energy sector and business advisory. prior to joining the group, aneal was the vice president, finance at bhp billiton and has held a variety of senior finance and planning positions with bp, amoco and deloitte & touche, in trinidad, the uk and usa .
brendan joined gmg in april 2017 and is responsible for media relations, internal communications and public policy for the group. between 2010 and 2017, brendan held a series of senior communications roles at the ftse 100 education company pearson. earlier in his career, he held roles as deputy press secretary at the british embassy in washington dc, senior press officer at downing street, and in other government departments .
gmg paid £622, 000 in charitable donations and gifts in kind to the guardian foundation, an increase of more than 10% over the previous year .
the source said: “the situation was not sustainable as a business could not have this lingering over it and the guardian needed the cash to survive. ”
mail & guardian focus political analysis, investigative reporting, southern african news, comprehensive coverage of local arts, music and popular culture, and more ...
the sale howver means gmg will no longer enjoy annual dividends from trader media. nothing was paid last year amid restructuring, but in 2012 the publisher received a £50m ordinary dividend .
the combined value of our cash balance and investment fund increased from £197. 4 million to £225. 8 million, reflecting dividends and preference share redemptions from trader media group (tmg), partially offset by cash outflow to fund gnm' s operating losses. all our major joint venture and wholly owned portfolio companies grew operating profit before exceptional items and amortisation of intangibles and our investment fund proved resilient in a fluctuating market .
· to contact the mediaguardian newsdesk email editor @ urltoken or phone 020 7239 9857. for all other inquiries please call the main guardian switchboard on 020 7278 2332 .
the question hanging in the air is how long the print guardian can last. “it depends how quickly alan reacts, ” juan señor says. “i suspect the guardian will be a weekend paper soon. online they will exist as they do now, hopefully charging, and they will focus their commercial energy on the weekend. ”
david joined guardian news & media (gnm) in 2011 and was appointed chief commercial officer in 2012. a year later he took on increased accountability for the gnm business in the newly - created role of deputy chief executive, with responsibility for leading commercial operations in the uk, the us and australia, and integrating them as one global organisation .
joined the board in november 2009 and was appointed as chair in september 2013. neil is also a non - executive director of the sage group plc and until recently a member of the board of trustees of the nspcc. previously, neil was chief executive officer of virgin media. he joined ntl, virgin media’s predecessor, as chief operating officer in september 2005 and has also served on the boards virgin unite and bank of queensland as a non executive director. he has also held senior positions at lloyds tsb plc (uk), prudential assurance company ltd uk, st george bank, eastwest airlines australia and icl australia .
it is to be expected that as we invest in the future of the guardian, we will see some increase in gnm' s losses. meanwhile, difficult economic and market conditions notwithstanding, our portfolio of investments continued to fulfil its intended purpose of providing financial support and long - term security for the guardian and its journalism .
prior to ubm, richard worked in investment banking at lehman brothers and flemings and at prebon group in a senior business development role. between 2007 and 2008, richard was a non - executive director of itn. he is a graduate of oxford university .
the feeling persists that the guardian may be heading full steam towards an iceberg. at the open weekend, i spoke to one of the paper’s senior staff, and said that i was writing about the guardian and whether it could survive. “if you find the answer, ” he said with a rueful smile, “let us know. ”
meanwhile, the guardian has to find ways of boosting its income. at the end of 2010 it launched guardian masterclasses, offering courses ranging from songwriting with one of adele’s co - writers (two days, £500) to photographing london at dawn (six weeks, £750) to “how to finish a work of fiction” with the author gillian slovo (nine months, £7, 000). seven thousand! the guardian, never a fan of the private schools, seems to have quietly joined their ranks .
the cash from the sale will help fund the guardian and the observer newspapers, and the urltoken website, which between them made an underlying loss of £31m last year .
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2. 4 this could help to ensure that concentration of voice (across all media) is not a threat to plurality. we expand on this argument in our answer to the next question .
the constant bashing of jeremy corbyn has to stop, as do puff - pieces for tory ministers like the' interview' with jeremy hunt on monday 15th february. the rest of the media is more than right - wing enough without the guardian joining in. it' s all gone downhill and way over to the right since katherine viner took over at the top .
the guardian foundation offers a number of bursaries each year for aspiring journalists to study for a postgraduate qualification in newspaper, web or broadcast journalism. meet this years’ bursary students .
in january last year, pemsel and the guardian and observer editor - in - chief, katharine viner, launched a strategy to cut costs by 20% over three years .
mail & guardian online focus local, international and african hard news, sport and business; publishing analytical, in - depth reports from its print edition, and more ...
joined the scott trust in 2015. he is currently head of commercial at adi. tv. previously, he was content director at the football league and the commercial director of digital at local world media .
donald joined the board in july 2012 and became chairman on 1 september 2012. he is also chairman of the london stock exchange and the medical research council and was, until 1 september 2015, chairman of the royal mail plc, and until 19 november 2013, chairman of smiths group plc. donald had a 20 - year career with barclays group, during which time he was chairman and chief executive of bzw investment management and acting chief executive of bzw followed by fifteen years with the axa group including holding the posts of chairman and chief executive of axa investment managers and chairman of axa framlington. he has also recently chaired the london metal exchange, amersham plc, taylor nelson sofres plc and the ifs school of finance and is a past chairman of everychild. he has also served as senior independent director of allied domecq plc and scottish power plc .
james joined gnm in 2014 from bain & company, where he led teams focused on strategic and operational questions across media, private equity and other industries. he holds a ba in history from the university of bristol .
the weekly mail was started in mid - 1985 by a group of journalists who had been recently retrenched from the rand daily mail and the sunday express, which had both closed down. the paper was run on a shoestring, but made possible by the revolution in “desktop publishing” of the 1980s .
steve joined sage in january 2014, having previously been operating partner and co - head of the portfolio support group at the private equity firm apax partners, which he joined in 2009. prior to this he built over 10 years’ experience leading the finance function for three listed uk companies culminating as cfo for ftse 100 company invensys plc, the global technology - related business, from 2006 to 2009. between 2004 and 2006 steve was group finance director for spectris plc, the ftse 250 precision instrumentation and controls company and from 1997 to 2003 he was with marconi plc, acting as cfo from 2001 .
during the year, gmg reduced its costs by £19 million to £259. 2m, and reduced headcount by approximately 300 fte roles. these moves, painful though necessary, enabled the group to reduce losses at the ebitda level by 35% to £44. 7m before £9. 6m of exceptional costs .
he is executive chairman of ansa mcal limited and chairman of ansa merchant bank limited. on friday 23rd october, 2015 the executive chairman of the ansa mcal group of companies – a. norman sabga was the recipient of a doctor of laws degree, honoris causa from the university of the west indies .
david b. sabga is deputy chairman of ansa mcal limited. he is also a member of the executive committee. he holds a ba (economics) from windsor university, canada. david previously held chairmanships at standard equipment, crown industries limited and farmhouse industries prior to joining the group in 1988 .
joined the board in september 2012. nigel is currently the chief strategy and innovation officer for dentsu aegis network. prior to this he was the chief executive officer of aegis media americas and emea. he was the founding ceo of isobar, the digital division of aegis media. he is also a founding member of the facebook client council and twitter influence council. nigel also sits on the steering committee of the world economic forum’s future of work initiative .
mail & guardian readers niche market, interested in a critical approach to politics, arts and current affairs. large numbers of readers among professionals, academics, diplomats, lobbyists, non - governmental groups .
history of the mail & guardian founded 1985 by a group of retrenched journalists from the deceased rand daily mail. built up a reputation for nose - thumbing attitude to the establishment and for uncovering inkathagate scandal. favourite prison reading of nelson mandela; banned for a while by pw botha. in recent years, continues to be a thorn in the side of gravy - train politicians with reports on oilgate, the police chief and more. in 2005, the m & g; newspaper turned 20. find out more
andy mahadeo is a mechanical engineer by profession and a member of both the association of professional engineers and the board of engineering of trinidad and tobago. he started his professional career in the energy sector working for both local and international oil service companies before joining the ansa mcal group in 1994. during his time with ansa mcal, andy successfully progressed through the ranks of maintenance engineer to operations manager and then on to managing director of ansa mcal chemicals ltd. throughout his career, he has been able to consistently demonstrate the creativity, energy, passion and focus on people basics that are the hallmarks of the group’s core values .
early rumours had suggested that apax would look to merge emap' s business - to - business arm with trade magazine publisher incisive media, which it acquired last year, leaving gmg with selected titles such as broadcast and screen international .
a source close to the deal said gmg had negotiated hard to extract the highest possible price from apax. the private equity fund acquired 49. 9pc of trader media from gmg in 2007 at a total value of £1. 35bn .
in this context, the guardian’s reporting of others’ difficulties has jarred with some readers. a recent media supplement cover story about the problems at the indie, by a former staffer, provoked strong reaction. “it strikes me that the guardian is currently compromising its integrity on an almost daily basis to discredit a commercial competitor, ” wrote one reader – a posting which, it should be noted, mediaguardian was happy to publish. another reader, an anonymous indie journalist, complained: “i look around and see a lot of talented, liberal journalists and see them being knocked by a load of other talented, liberal journalists and can’t quite bury the hypocrisy. ”
anna joined gnm in december 2016 as vp for platforms and partnerships, managing global relationships with digital technology partners including google and facebook, and pioneering the guardian’s commercial video strategy in partnership with editorial and digital teams .
joined the board in january 2016. after having co - founded a publishing company in 1982, baroness gail rebuck dbe went on to become the ceo of random house for 22 years from 1991 to 2013. she currently, on the penguin random house uk global board of representatives and also the group management committee of bertelsmann .
3. 9 we also note that ofcom has, in our view rightly, begun to give consideration to promoting public purposes in the arena of digital interactive participative media. however, we are not wholly convinced by the argument that public purposes are
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 . 
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.
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.