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News

February, 2010
Global Leisure Partners LLP Advises on the Sale of GMG Regional Media


Global Leisure Partners LLP ("GLP") is delighted to announce that it has acted as exclusive financial advisor to Guardian Media Group plc ("GMG"), a leading UK multimedia business, on the sale of its regional media business ("GMG Regional Media") to Trinity Mirror plc, one of the UK's largest newspaper publishers. 

The total consideration of the transaction is £44.8 million.  The sale complements GMG’s long-term goal of securing the Guardian in perpetuity and reinforces Trinity Mirror plc’s commitment to regional media markets. 

GMG Regional Media is a wholly owned subsidiary of GMG and has two component businesses: MEN Media and S&B Media.  GMG Regional Media publishes 32 local and regional newspapers and associated websites in the North West and South of England.  Principal titles include the Manchester Evening News, the Surrey Advertiser and the Reading Post.  Channel M, the TV station for Greater Manchester, and the GMG Regional Media’s local newspapers in Woking are excluded from the sale.

Global Leisure Partners initially provided advice on strategic alternatives available to GMG.  In late 2009, GMG decided to divest GMG Regional Media and Global Leisure Partners subsequently managed the sale process and led principal negotiations.  The sale of GMG Regional Media represents the second successful advisory transaction for Global Leisure Partners since the start of 2010.

Carolyn McCall, the Chief Executive of Guardian Media Group, commented:

"GMG is mandated to secure the future of the Guardian in perpetuity, and we have a strong portfolio which has to be in the right shape to achieve that goal. The Group board and the Scott Trust have made the decision to sell in light of these strategic objectives. GMG Regional Media is a good business and a publisher of important newspapers. However, we believe Trinity Mirror, as the UK's biggest regional publisher, is best placed to develop this business in a market that is likely to consolidate further. We are therefore confident that this decision is in the best long-term interests of the regional business and its staff, as well as delivering real value for the Group."

Mervyn Metcalf, a Managing Director at Global Leisure Partners who led the transaction, commented:

"We are pleased to have advised GMG on the successful sale of its regional media business. We feel a great sense of achievement when we can find a buyer who both meets our clientís price requirements and who can provide a home for the target to grow and continue to generate value. This transaction highlights Global Leisure Partnersí expertise in creating value through a competitive process and confirms that an active M&A environment continues to exist for quality businesses."

Contact:

Mervyn Metcalf    
Managing Director    
Global Leisure Partners LLP    
20 Balderton Street    
London W1K 6TL    
United Kingdom    
Tel: +44 (0) 20 7016 8050    
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