Emap announced last Friday it was undertaking a review of its portfolio of assets and considering a possible sale or demerger of some or all of its businesses after it had received various unsolicited proposals for parts of the group.
McCall said the group is keeping an "open mind" about which assets to target in the UK media sector but would like to diversify its businesses, which she said are completely oriented to the UK economy and are all advertising-driven.
She said: "It is unlikely we will invest in a sizeable acquisition in an area where we already are", adding that business-to-business media was one of several interesting areas.
This would rule out a bid for Emap's radio division because GMG already owns around 13 stations in the UK.
She said the group had sizeable cash reserves after the sale of a 49.9% stake of its Trader Media division for £674m to private equity firm Apax Partners earlier this year.
Yesterday, GMG announced its pre-tax profit for the last financial year was £97.7m, up from £66.4m in 2006..jpg)
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