News Corp is selling its business directory TrueLocal to Sensis. The deal, with undisclosed price, is yet to be approved by the Australian Competition and Consumer Commission. It will give Telstra almost a monopoly in business directory market with a combined Yellow Pages/TrueLocal brands. Inevitably, they will argue that there is plenty of competition from Yelp and Google but both just value add feeds from Telstra. Coincidently, current CEO of Sensis, used to be also a CEO of TrueLocal. Interesting development.
As to News Corp, it appears the company has extracted the maximum value from the venture and now is focusing back on media with recent acquisition of Business Spectator and increased stake in Foxtel.
It appears we are approaching a period of big consolidations in media as well as online assets. The choices are getting narrower… I must admit, I am turning more and more frequently to social media in search of the latest information and reading materials on the topics of interest since traditional sources, and I have a few favoured websites, are getting very tin on interesting content - some have chosen to lock bulk of their material behind paywalls or started pushing biased agendas to increase the traffic.
Murdoch ditches digital newspaper