"Guardian Media Group is expected to take a minority stake in Incisive Media, owner of Legal Week and Accountancy Age, if its joint £1.2 billion bid with the private-equity firm Apax for Emap’s business division succeeds."

McCall: "… we have to be more overt about the Observer coming from the Guardian news and media stable. But we’re not going to have the Guardian-on-Sunday - the Observer is a strong print brand."

"Apax, the private equity firm, has teamed up with the publisher of The Guardian newspaper to mount a joint £1.2bn bid for Emap’s business publishing division … as it would fit neatly with Incisive Media , in which [Apax] has a shareholding"