Media Groups Eye Up Real Estate Websites

02 December 2005

The scramble by UK newspaper groups to acquire internet real estate sites has made a very desirable property.

The website, owned by a group of British realtors, has been approached by several large, but as yet undisclosed, media firms whose real estate advertising revenues in printed publications are falling prey to online competitors.

Rupert Murdoch's News Corporation, Trinity Mirror and the Daily Mail and General Trust (DMGT) have all made online acquisitions this year, totalling nearly £40 million ($69m; €58m).

Says ceo Ian Springett: "Shareholders want a return, and an exit route is something that is desired at some stage." A sale, however, is but one option. The company is also looking at a possible IPO.

Another real estate website,, has also been approached by media groups and is mulling a potential £200m flotation next year.

  • Meanwhile, the DMGT has put up for sale its £1.5 billion regional press business, Northcliffe Newspapers. The move will end the publisher's 80-year association with local papers.

    Interest in the business, with its 100 titles, is expected from rivals such as Johnston Press and Trinity Mirror, as well as private equity groups.

    Data sourced from; additional content by WARC staff