Associated Newspapers buys Find a Property for £13.8m
By Staff,, campaignlive.co.uk, Wednesday, 10 November 2004 11:00AM
LONDON - Associated Newspapers has acquired the property website Find a Property for £13.8m.
The newspaper group will pay an initial £9.2m to purchase Find a Property and pay outstanding loans. Further payments will be made depending on the website's performance up to 2007.
Find a Property, the third most visited property website in the UK, will be run as a standalone operation. It is currently profitable and generates revenues of £2m.
Andy Hart, managing director of Associated New Ventures, said: "Property is a key market for our newspaper titles and we want to increase our presence in the digital sector. Find a Property is a perfect fit."
The online property market is worth an estimated £20m a year in advertising revenue, with this expected to rise to £80m by 2008.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum here.
This article was first published on campaignlive.co.uk
- On-Air Creative / Creative Executive Discovery Communications Very Competitive with excellent benefits, London (West), London (Greater)
- Senior Marketing Manager Cutis Developments £50,000 - £60,000 per annum , Victoria, London (Greater)
- GRAPHIC/MULTIMEDIA DESIGNER (Branding, Print, Digital, Video) Creative Recruitment £30000 - £33000 per annum, City of London
- Creative Artworker Michael Page Digital £25000 - £30000 per annum, Greater Manchester
- Middleweight Designer Michael Page Digital £25000 - £35000 per annum, Manchester