I’m not quite sure about the details of this story. But it could have interesting implications for the finances of The Guardian.
Sources close to the company said Apax would not be able to recoup its investment in Inform, but is keen to sell the unit before its value falls further.
Emap is understood to have seen a boost in trading at its magazines in the first two months of this year, but a decline in advertising revenues and pressure on subscriptions has dragged down valuations of some publishing businesses.
The point is that EMAP is a joint venture between GMG and Apax. GMG is part of the Scott Trust Ltd and the point of that is to earn money aso aws to allow for the continued publication of The Guardian.
The thing is, if the EMAP deal is a bust, how much of GMG’s money does that lose and what then happens to the finances of The Guardian?