McCall rules out GMG and Apax joint bid for Emap

LONDON - The Guardian Media Group's chief executive Carolyn McCall has ruled out a joint bid with Apax for Emap, saying only preliminary conversations have taken place.

In an interview with The Times published today, she said her company had "no interest" in a joint bid or the bulk of Emap's assets, but admitted she would be interested in "some of its radio stations and business-to-business properties".

McCall also spoke about the group's newspapers, saying that the loss-making Observer "makes a net contribution of about £2m" and that while The Guardian's circulation has not risen, its circulation revenues are up 10% following price rises.

She also stressed there would be no redundancies across the newspapers and the digital division Guardian Unlimited.

GMG has been tipped by analysts to be one of the most likely buyers of Emap Radio, with new Chrysalis owner Global Radio also named as a possible purchaser.

Media Week 10-Aug-07, 11:10