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The Guardian - UK

Roy Greenslade

Irish Times acquires property ads website

The Irish Times has bought a property website in a €50m (£34.2m) deal, indicating the company's acceptance that property advertising is moving towards the net despite its vibrant property section. In choosing MyHome.ie, it acquires a site with more than 90,000 subscribers and a claim of 344,000 unique users. The site expects to make profits of €2.5m (£1.7m) during 2006 on a turnover of €6.2m (£4.2m). (Via ElectricNews.net)

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