News Ltd seem to have reached an agreement with FPC Courier Group to purchase a very popular (with agents) Sydney Newspaper Group FPC Michael Hannan, Group Managing Director, The Federal Publishing Company, today announced the company had reached an agreement with News Limited to acquire its community media business including all of the Inner Sydney Titles.
This is a positive for REA as more than likely branding for REA will be splashed across these titles by mid year and should give REA a great boost in Inner Sydney. This in turn should raise the brand – although I think nearly everyone knows REA in major eastern capitals.
As I have said, I don’t know why anyone would buy a newspaper group these days, but if you have a few billion lying around why not, it gets boring after a while just counting cash.
It does not seem that Homehound is a part of this so it will be interesting to see what happens there.