- Scoot.com, the internet and telephone directory group, is in discussions to buy Loot, the UK classified advertising newspaper and website, in a deal that could be worth around £200 million.
The acquisition repeats a trend of online companies seeking to buy traditional media companies in an effort to grow subscriber base. A deal is expected to be completed by the end of May.
Scoot, which was launched in 1995 as Freepages, recently received an injection of £100 million from French media and group, Vivendi, which is to be used to develop a pan-European Scoot network.
Scoot is already available in the UK, Belgium and the Netherlands. This will be followed by launches in France, Germany, Italy, Spain and Portugal later this year.