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The Guardian - UK
The Guardian - UK
Business
Jemima Kiss

News International invests in property website

News International announced another savvy investment this week, making a multi-million pound investment in the property search site Globrix, due to launch next month.

FT.com points out that News Int is extending its property portfolio: it already owns half of Propertyfinder, but the Globrix model aggregates will aim to aggregate a larger number of properties because it won't change estate agents to be indexed.

Globrix is aiming to be the Google of property search, although I'm not sure their business model is all that radical. But for News International, it's a safe investment in one of the advertising areas that newspapers have relied on for years.

Source: Release

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