Around the Net
Guardian's Magazine Business Floats With GBP800m Market Cap
- Telegraph, Tuesday, February 9, 2016 8:05 AM
Ascential, the magazine business jointly owned by The Guardian's publisher and private equity group Apax, has floated at 200p a share, giving it a market cap of around GBP800m. Guardian Media Group, which owns around a third of the business, and Apax, which owns two-thirds, will sell a 25% stake in the company with shares priced between 200p and 210p. The Guardian is seeking to slash GBP54m in costs after a review unveiled that its GBP758m fund could run out in less than a decade.
