News Corp. Bids For Aussie Online Deal

News Corp. accelerated its expansion onto the Web on Monday, announcing a planned takeover bid for Australian online property-listings site realestate.com.au. The deal, valued at A$120.9 million ($91 million), is the second by the media conglomerate in less than a month.

News Corp., which raised its stake in realestate.com.au to 43.7 percent on Monday, said it would offer A$2 cash per share for the remaining shares — a 19 percent premium to Friday’s closing price of A$1.68.

Bloomberg: About 70 percent of all property agents in Australia advertise with the company, which had net income of 2 million dollars in the six months that ended Dec. 31 on sales of 15.24 million dollars

TheAustralian: News announced it had purchased the 3 per cent of the group owned by Kerry Packer’s ninemsn online business, taking its stake to 43.69 per cent.

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