Wed, 23 Nov 2011 | DIVISION SALE
The Guardian Media Group is planning to sell the parent company of its PaidContent website, three years after first taking on the business.
Guardian News and Media (GNM), the section of the eminent media company that owns the company, is reportedly in talks with a number of potential bidders for ContentNext Media, which it bought in 2008 for around £4 million (around $6.5 million) from developer Rafat Ali. ContentNext currently manages PaidContent and three other online properties and has dealt with much of the group's US operations.
"Following a strategic review Guardian News & Media has decided to seek a buyer for ContentNext Media," a spokesman for the group stated. "ContentNext is a high-quality asset, but our focus in the US is on building the Guardian. It's early days but we have received several expressions of interest and are talking to a select number of potential buyers."
The sale is being dealt with by corporate services firm, Coady Diemar Partners. The business is thought to be worth as much as £13 million ($20million), which would ensure that GNM would get the money back that they had originally invested in the acquisition. GNM said, however, that they "did not recognise this figure."
This well-established company specialises in high-security transport services for government-linked projects, with a focus on passenger transportation for Home Office asylum accommodation sites.
This multidisciplinary engineering and environmental consultancy boasts a proven track record of over 20 years in delivering complex infrastructure projects across sectors like infrastructure, water resources, and maritime.
This is a rare opportunity to acquire an award-winning high-quality ice cream manufacturer with a recognised brand and a purpose-built factory.
Looking for more businesses? Try our off-market tool.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.