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Strategic review will examine four possibilities: a sale, a float and two dividend summary options. Dividend summary could see either up to 300 m ￡ debt more added to the balance sheet of the group or the introduction of a third private equity investor may buy a 20pc 40pc game Apax and Guardian Media Group (GMG).

Apax acquired a 49. 9pc Trader Media (TMG) of GMG group game in March 2007 .the ' agreement valued TMG ￡ 1. 35bn.

While the commercial sale is regarded as the preferred route, sources said an initial public offering (IPO) could be an interesting proposal because it would create a "Rightmove for cars", a reference property, search the site started by Countrywide, which floated successfully in 2006 with a price of 425 million real estate of ￡-tag but today is valued at 875 million from ￡.

However, informed sources the two shareholders have different on when views exactly at the exit of the company.

Sources say that the GMG will not retrieve all the payment immediately because the money on its balance sheet would not clear any intérêt.Apax, on the other hand, is under pressure to demonstrate its investors can make a strong statement on recent media investment after the group capital investments invert in Emap, incisor and Hit Entertainment.

It is believed that Apax would prefer a sale of business to an industrial property office.

It is understood that some people from GMG favor a float in 2012, when Auto Trader became offer purely online.

March 2010, Auto Trader Digital operations profit contribution were 90pc compared to 70pc two years before.

The arrival of Andrew Miller, Carolyn McCall replacing as Chief Executive at GMG in March caused many to assess what changes and compromise sale would be made of GMG.

Mr. Miller is credited with playing a key role in driving the digital processing to Trader Media Group.

Prior to joining GMG, he was Director financial to TMG and played a key role in the sale of the 49 9pc game to Apax Partners.

Auto Trader has proved to be one of the greatest British successes in business formerly monetising online print.

As the print company has suffered, digital revenues have risen flèche.alors auto Trader has now a weekly circulation of only 136 000, his website, Autotrader.co.uk, has users to 10 m per month, while the mobile channel had 500,000 unique monthly users in March 2010.

It appeared last month that the TMG had shattered 463 m ￡ off the coast of the value of the magazine Auto Trader.La depreciation that drove the TMG loss before tax of ￡ 503.3 m for the year at the end of March 2010, was necessary because advertising had moved quickly to its website, Autotrader.co.uk

A GMG spokesperson said: "Trader Media Group is a very strong and well advanced in the digital transition, which makes it a valuable asset for GMG.Aucune decision were made on the time or the nature of our output of this investment.

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