Fairfax buys online accommodation site for $29.1m

[Rhythm]

http://www.smh.com.au/business/fairfax-buys-online-accommodation-site-for-291m-20110307-1bkcw.html

Fairfax Media says it has bought an online holiday rental and corporate accommodation business for $29.1 million.

The diversified media house said today it had purchased Occupancy, which would extend its online transaction business.

Occupancy operates the rentahome.com.au and takeabreak.com.au websites, among others.
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Fairfax chief executive Greg Hywood said Occupancy was growing strongly and had huge market potential.

"Occupancy also provides a perfect fit with our stated strategy of expanding in the online transactions sector, where we are committed to further strengthening our position," Mr Hywood said.

Occupancy will be combined with Fairfax's existing holiday and travel website stayz.com.au, Fairfax said.

"Following the transaction, the current shareholders of Occupancy will hold approximately 10 per cent of the combined Stayz/Occupancy business with Fairfax controlling the remainder," Fairfax said.

 

[Shane]

As a Fairfax shareholder, I'm definitely happy to see them continuing their push into online business. They would definitely be one of Australia's largest listed online publishers.

They are building up a pretty impressive collection of websites including RSVP, Domain, Stayz, Drive, Essential Baby, not to mention their news websites in each city and of course their partnership with OMG. And in NZ they own two of the biggest sites, Stuff and TradeMe.

It may take a while, but people will eventually see Fairfax as an online publisher rather than a newspaper company, and hopefully the share price will increase accordingly.

 

[Timmy]

As a Fairfax shareholder, I'm definitely happy to see them continuing their push into online business. They would definitely be one of Australia's largest listed online publishers.

They are building up a pretty impressive collection of websites including RSVP, Domain, Stayz, Drive, Essential Baby, not to mention their news websites in each city and of course their partnership with OMG. And in NZ they own two of the biggest sites, Stuff and TradeMe.

It may take a while, but people will eventually see Fairfax as an online publisher rather than a newspaper company, and hopefully the share price will increase accordingly.

It might take a while but 2 great upcoming acquisitions for them will be Voucher/s/.com.au and Vouchers.co.nz ha!

 

[courier]

Nice one Timmy, I agree great to see big Aussie business backing the online market - should help to give the rest of us confidence in what we are doing day to day

 

[Rhythm]

Occupancy operates the rentahome.com.au and takeabreak.com.au websites, among others.

Have just discovered Occupancy also owns holidayrentals.com.au. OMG owns the singular.

 

[Rhythm]

ecommercereport.com.au: John Fairfax Limited – secret new owner of Banks.com.au, creditcards.com.au

http://www.ecommercereport.com.au/?p=1530



[subscribers only]

 

[DomainNames]

ecommercereport.com.au: John Fairfax Limited – secret new owner of Banks.com.au, creditcards.com.au

http://www.ecommercereport.com.au/?p=1530



[subscribers only]

Not very secret. They bought it years ago in the omg.com.au joint venture but now they are majority shareholder apparently www.omg.com.au
http://www.rightclickcapital.com/ Ari Klinger is leaving as ceo dont know why.. might be part of the deal as Fairfax takes over as majority shareholder of OMG
http://twitter.com/ariklinger/statuses/43238302630944768

Wonder who the new ceo is and what happened to all the old Founders of OMG when it was Boomerang / Internet Products and Services? Does anyone know?

 

[James]

Not very secret. They bought it years ago in the omg.com.au joint venture but now they are majority shareholder apparently www.omg.com.au
http://www.rightclickcapital.com/ Ari Klinger is leaving as ceo dont know why.. might be part of the deal as Fairfax takes over as majority shareholder of OMG
http://twitter.com/ariklinger/statuses/43238302630944768

Wonder who the new ceo is and what happened to all the old Founders of OMG when it was Boomerang / Internet Products and Services? Does anyone know?

The founders are probably in the Caribbean sipping on a tropical drink...