The Guardian Media Group relaunched its Guardian newspaper in the Berliner format during 2005 and The Observer followed this year. The aim was to boost circulation and return its newspaper division to profitability. Sales jumped £190m to £708m in 2005, mainly due to the full consolidation of Trader Media Group. Later this year GMG plans to float a minority stake in that business, which publishes Auto Trader magazine. Chief executive Sir Robert Phillis retires at the end of this month and will be replaced by Carolyn McCall, currently in a similar role at Guardian Newspapers. London-based GMG is owned by the Scott Trust, created in 1936 to ensure The Guardian’s financial and editorial independence.
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