News International (NI) has announced the purchase of online property site propertyfinder.com for £14.3 million, with the deal further extending Rupert Murdoch’s presence in the internet arena.
Propertyfinder.com was jointly purchased by media group NI and Australian property firm realestate.co.au, with the agreement expected to raise awareness of the propertyfinder brand through NI’s newspapers and websites.
Commenting on the acquisition, NI said: “Property finder will have the clear objective of becoming the leader in the UK online property market.”
The recent purchase is in line with Murdoch’s recent strategy of buying up internet sites, acquiring American online gaming firm, IGN Entertainment earlier this year (see News Corp Buys Online Gaming Firm).
The move follows Murdoch’s stated aim of “achieving two of our key strategic objectives in our efforts to become a leading and profitable internet presence.”
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