Guardian News and Media in line to lose around £38m this year

New chief executive of Guardian Media Group Andrew Miller has confirmed plans to distance the Guardian, Observer and from the other assets in the group.

It means that Emap, Autotrader and GMG radio will be treated as “investments” while his management focus will be on the “core business” of Guardian News and Media, Media Guardian reports.

News of the change of focus for GMG first emerged last week.

Miller has now briefed staff and said there were “no imminent plans to sell any investments”, the Guardian also reports. It notes that Miller told staff operating losses for the GNM national press division for the current financial year to March were expected to be in line with last year’s loss of £37.8m (before exceptional items).

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