The Electronic Telegraph, online sister to Hollinger Group’s daily and Sunday national newspaper titles, will next month undergo a £10 million relaunch, rebranding as Telegraph.co.uk.
The makeover is partially funded by cash realised from Hollinger’s sale of its Canadian assets [WAMN: 01-Aug-00] and will create a network of sites covering sport, jobs, travel, motoring and money.
Although keeping his cards close to his chest about the extent of the Telegraph’s overall internet investment, Hugo Drayton, managing director of Hollinger Telegraph New Media, hailed 2000 as “the big investment year". Of the group’s online business to date, he commented: "It would be unfair to say it has been run on a shoestring but it has been run tightly. We have always played catch-up with technology and potential growth has been restricted by capacity.”
The revamp coincides with the completion of Hollinger's £1.6bn sale in cash and shares of many of its Canadian newspaper assets to CanWest Global Communications.
News source: Financial Times