GMG rejects improved Apax offer

tradermediagroupThe FT is reporting that Guardian Media Group has rejected an improved offer by Apax to purchase GMG’s 50.1% stake in Trader Media. The new offer valued Trader Media at about £1.5bn, including net debt of about £560m. Apax’s previous offer valued the business at £1.2 billion. An IPO now seems the most likely outcome.

UK, London

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Guardian News & Media sell paidContent to GigaOM

Guardian News & Media has sold the assets of ContentNext Media, to business and technology media company GigaOM. The deal includes all the properties of ContentNext Media including paidContent.org, mocoNews, contentSutra and paidContent:UK. The terms of the deal have not been disclosed.

Under the terms of the acquisition, GNM will take a minority shareholding in GigaOM. GigaOM has an online audience of more than 4.5 million monthly unique visitors. It also runs events and a market research service and digital community providing expert analysis and research on emerging technology markets. GNM is joining existing investors such as Reed Elsevier Ventures, Alloy Ventures and True Ventures.

Andrew Miller, Chief Executive Officer of Guardian Media Group (parent company of Guardian News & Media), said: “paidContent has a fantastic presence in the tech/media space and the match with GigaOM, itself a really smart and pioneering company, is a good one. We are delighted to become shareholders in GigaOM as part of the deal.

“The Guardian’s focus in the US is on building guardiannews.com, but we look forward to seeing paidContent thrive and grow in its new home and wish its staff all the very best for the future.”

Staci Kramer will remain the editor of paidContent.

USA, New York, NY & UK, London

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