The Guardian is selling ContentNext Media – the blog-based digital media news service which it bought in 2008 for £4m.

ContentNext’s UK site Paidcontent quotes GNM international and business development director Stella Beaumont: “ContentNext has strong brands, great people and an excellent reputation, but GNM’s focus in the US is on building The Guardian. We have received expressions of interest in the company, but the sale process is still in the early stages. We are talking to a select number of potential buyers.”

Guardian Media Group is owned by the Scott Trust, whose founding principle is to protect the journalism of The Guardian in perpetuity. This has led to GMG drastically remodelling the business in recent years to protect The Guardian, which made a £37.8m operating loss last year.