The Telegraph Group has set up a separate company to house its online activities and appointed its marketing director, Hugo Drayton as managing director of the new company.
Hollinger Telegraph New Media will develop e-commerce opportunities as well as housing the Electronic Telegraph, which now represents a network of 17 websites, as well as Hollinger's joint venture with Boots, handbag.com, and the UK portal, UKMax.com. The Telegraph will appoint a new marketing director early next year.
The creation of a separate new media company, which will file its own accounts, will allow the newspaper group to grow and develop its presence within new media, as well as prepare for the possibility of floating the new division. Drayton said: "One of the objectives of the Hollinger Telegraph New media is that it could be prepared for a potential listing. Whether we do it depends on what Hollinger's shareholders want to do." He added that the marketing spend on the group would be "significant."