Online Journalism News

Trinity Mirror ploughs another £50m into online classifieds

The Trinity Mirror newspaper group has agreed a £50.5 million deal for the UK's second biggest web recruitment firm the hotgroup.

More than two million people are registered with hotgroup's recruitment sites, which include jobsfinancial, planetrecruit and workthing.com.

The Trinity Mirror group publishes several major UK newspapers and their websites including mirror.co.uk, people.co.uk and dailyrecord.co.uk. The hotgroup purchase is the company's latest move to acquire profitable online services that supplement newspaper advertising revenues.

Trinity Mirror recently bagged graduate recruitment site GAAPweb.com and property site Smartnewhomes.com.

"We see exciting opportunities for the management and continued development of the hotgroup alongside our existing recruitment advertising businesses," said Sly Bailey, chief executive of Trinity Mirror.

"The acquisition is consistent with our strategy of growing Trinity Mirror's core classified franchises both on- and off-line."

More news from journalism.co.uk:
Mail group expands online job search portfolio
News round-up: Murdoch's merry spending spree
Daily Mail hedges bets with job site purchase

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daily mail | trinity mirror | mirror | sly bailey | united kingdom | newspaper group | profitable online services | property site | graduate recruitment site | mail group | recruitment advertising businesses | newspaper advertising revenues | web recruitment |

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