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Digital transition heralds Autotrader magazine writedown

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By The Drum Team, Editorial

September 28, 2010 | 2 min read

Trader Media Group (TMG), jointly owned by Guardian Media Group and Apax partners, has undertaken a voluntary writedown in the value of its printed Auto Trader title by a whopping £464m. This follows a voluntary internal reorganisation last year which saw print and digital divisions separated.

TMG were at pains to stress however that the overall value of the business remains unaffected. This is because the process of transition from print to digital has been sufficient to cover declining profits from the magazine.

Group chairman Tom Hall stressed that the company is successfully managing a transition from a “magazine based business to a website driven offering.” The group continues to post operating profits in excess of £100m.

The magazine has seen its weekly circulation fall to 136,000 as readers and advertisers rapidly migrate to the publications website, autotrader.co.uk, which now welcomes up to 10m visitors per month.

Although Auto Trader sees its future in digital there are currently no plans to close the magazines print edition.

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