News Limited has continued its divestment of its non-core businesses, agreeing to sell its directory business TrueLocal to Telstra’s Sensis.
Last year News Limited sold its stake in digital investor Netus, which has since been picked up by Fairfax.
The deal was announced by Sensis MD John Allan, who left News Limited in July last year after a short period running The Australian.
Allan said: “TrueLocal has built a strong reputation in connecting consumers with businesses across the country, through its high quality local business listings. TrueLocal also has an extensive library of ratings and reviews which enables consumers to make more informed decisions when they search for a local business.
“Consumers’ reliance on this type of content underlines why it’s important to make it accessible – which drives more traffic to the Yellow Pages network and generates better leads for our customers.”
The deal is subject to Accc approval.
Last year News Limited sold its stake in digital investor Netus, which has since been picked up by Fairfax.
The deal was announced by Sensis MD John Allan, who left News Limited in July last year after a short period running The Australian.
Allan said: “TrueLocal has built a strong reputation in connecting consumers with businesses across the country, through its high quality local business listings. TrueLocal also has an extensive library of ratings and reviews which enables consumers to make more informed decisions when they search for a local business.
“Consumers’ reliance on this type of content underlines why it’s important to make it accessible – which drives more traffic to the Yellow Pages network and generates better leads for our customers.”
The deal is subject to Accc approval.
- 1/17/2013
- by mumbrella
- Encore Magazine
News Limited has sold its seven year old shopping comparison site Getprice.com to the management team.
Among those participating in the purchase are chief executive Chris Hitchen and chief operating officer Jared Oken.
No price has been disclosed.
Hitchen said in a statement: “We are delighted that News has accepted our offer. Being independent and having control of our own destiny is an exciting prospect – we have big plans for the next chapters of Getprice’s history.
“We will always be extremely grateful to News for its investment, support and guidance over the years. It’s been a lot of fun, but it’s time for us to spread our wings as an independent business again.”
News Limited’s chief financial officer Stephen Rue said: “While we will be sorry to see them go, we recognise this is the best next step for them in the growth of their business.
Among those participating in the purchase are chief executive Chris Hitchen and chief operating officer Jared Oken.
No price has been disclosed.
Hitchen said in a statement: “We are delighted that News has accepted our offer. Being independent and having control of our own destiny is an exciting prospect – we have big plans for the next chapters of Getprice’s history.
“We will always be extremely grateful to News for its investment, support and guidance over the years. It’s been a lot of fun, but it’s time for us to spread our wings as an independent business again.”
News Limited’s chief financial officer Stephen Rue said: “While we will be sorry to see them go, we recognise this is the best next step for them in the growth of their business.
- 10/10/2012
- by mumbrella
- Encore Magazine
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