Guardian Media Group back in talks for Auto Trader

by Staff,, Brand Republic 22-Jul-03, 09:00

LONDON - Guardian Media Group has reopened negotiations to buy a stake in Trader Media Group, publisher of the car-buying magazine Auto Trader, in a deal worth as much as £550m.

According to a report in The Times today, talks have resumed after breaking down in May over a disagreement on price. It reports that Guardian Media Group wants to pay £500m for the 50% stake, while the private equity firms that own Trader Media want £550m. Guardian Media Group already owns 50% of the company.

Other titles at the group include Bike Trader, Ad Trader and Truck Trader. The company has 3,200 staff and publishes 70 titles. AutoTrader is one of the biggest magazines in the country, with its 13 regional editions selling more than 340,000 copies.

It is owned by the private equity firms BC Partners and Montagu, and the sale could give them a profit of £290m, having originally invested £260m in the business.

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