Report: GMG, Apax Consider Joint Bid For UK's Emap
August 8, 2007 at 5:45 AM (PT)
The DAILY TELEGRAPH is reporting that GUARDIAN MEDIA GROUP and private equity firm APAX PARTNERS are mulling a joint 2 billion pound bid for UK media giant EMAP.
The paper says that talks between the potential partners are at an early stage, with GMG looking to get EMAP's radio properties (including the KISS and MAGIC networks and stations), APAX interested in splitting EMAP's trade publications with GMG, and EMAP's consumer magazine properties ticketed for resale.
EMAP was placed on the market earlier this year after receiving several unsolicited offers.