Associated Newspapers buys Find a Property for £13.8m

Be the first to comment

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.

Tags

SUBSCRIBE TO CAMPAIGN

Only £57 for 3 months

Includes every print & iPad edition, plus full access to Campaign online and other Brand Republic sites.

SUBSCRIBE

Campaign Jobs

Thousands of jobs across advertising, creative, marketing and media

Happy 12th birthday, Facebook - what's next for the world's most powerful tween?
Share

1 Happy 12th birthday, Facebook - what's next for the world's most powerful tween?

The social network celebrates its latest birthday this week, and there is no sign that its dominance will dwindle any time soon, writes Daniel Price, head of social operations at Lost Boys.

Just published