Auto Trader is one of the world’s best examples of successful print-to-online transition. Little more than a decade ago it existed only as a magazine. Anticipating the migration of readers and advertisers from print to the internet, it went online early and is today one of the biggest web businesses in the UK with approximately 10 million unique users a month. While the magazine remains successful, the majority of Auto Trader’s profits are now generated online, and it has achieved this while maintaining its overall level of profit. Its parent company, Trader Media Group, enjoyed a very strong year under the joint ownership of GMG and Apax Partners.