Online property portal is latest IN&M acquisition
Wednesday, 29 March 2006

Independent News & Media this week paid a rumoured €5m to €10m for PropertyNews.com, a Belfast-based property portal, as well as the associated monthly freesheet of the same name. The business, originally founded by Graham and Lorna Brown in 1983, expanded onto the web in 1998 and openen operations south of the border in May 2005. It now claims a 70% market share in Donegal and about 25% across ten other border and midlands counties. IN&M seems to be firmly on the acquisition trail at present: it recently took a 20% holding in the British gaming company Cashcade and is rumoured to be considering bids for the well-known Irish online brands Myhome.ie and Daft.ie, although there are suggestions that this latest buy may signal the end of such purchases for now. The PropertyNews.com deal is subject to approval by the regulatory authorities.




Using the buttons below you can save this article to your favourite social bookmarking site

Digg!Reddit!Del.icio.us!Google!Live!Facebook!Slashdot!Technorati!StumbleUpon!Furl!Yahoo!Ma.gnolia!