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NewsCorp Ups Bid for Oz Online Business

News, 20 October 2005


Rupert Murdoch's media empire, News Corporation, is pressing ahead with its assault on the internet.

It has just upped its bid for Australian property site realestate.com.au from A$121 million ($90m; €75m; £51m) to A$149m. NewsCorp made the initial approach in August to acquire the 56.3% of the company it does not already own.

The media giant's legal advisor, Allens Arthur Robinson, says the offer is final and "will not be increased again".

Realestate.com.au is just one of the businesses on Murdoch's online shopping list, which he drew up in February this year together with a $2 billion budget.

Since then Fox Interactive Media, which oversees NewsCorp's web interests, has announced the $580m acquisition of US firm Intermix Media, which operates a social networking site; bid $60m for Scout Media, which publishes sports websites; and unveiled a $650m takeover of IGN Entertainment, an internet video game information company.

It is also in talks with privately owned search engine Blinkx [WAMN: 14-Sept-05].

Data sourced from Brand Republic (UK); additional content by WARC staff