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The Guardian Media Group buys a stake in Seven Publishing.(Brief Article)
The Guardian Media Group has announced that it has taken a minority stake in the consumer magazine company Seven Publishing, which was launched last June.
Seven Publishing, which publishes the food title Delicious, was set up with 20 shareholders. Seamus Geoghegan, the managing director, Jo Sandilands, the editorial director, and Michael Potter, the chairman, hold three of the largest stakes.
GMG was approached for further funding and has now become the single largest shareholder with a 27 per cent stake. It has contributed pounds 2 million to support Seven's growth in the consumer magazine market.
Seven has also attracted pounds 500,000 in funding from other interested parties.
The increased investment will be used to promote ...
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