Executives confirmed yesterday that GMG would appoint financial advisers in the next few weeks to conduct the review. It was reported at the weekend that a number of investment banks had already been approached.
The review is said to be aimed at ‘de-risking’ GMG by cutting the group's exposure to classified print advertising revenues.
The company's Trader Media division is therefore seen as a possible candidate for sale, although executives insisted yesterday the group might well decide to retain what is a highly profitable business. Alternatively, it might decide to simply sell a small stake in the division.