Guardian set to shrink

The Guardian Media Group (GMG) is set to get smaller, according to new plans drawn up by its new chief executive Andrew Miller. The group, which owns The Guardian and The Observer, plans to focus on its newspaper arm, hiving off all its other assets into an investment portfolio, from where they could be sold over time. The group’s other assets include Trader Media Group, the owner of Auto Trader, and Emap, which it co-owns with private equity group Apax.