Axel Springer buying TotalJobs for £110 million in digital classifieds offensive
Summary
Last month, it targeted “a growth offensive in the area of digital classifieds”, bundling its existing portfolio of sites including StepStone in to a new JV, Axel Springer Digital Classifieds, with the General Atlantic Atlantic investment group. That process had looked like coming to an end, but RBI last month said it wanted to sell even Hollywood’s iconic Variety magazine. The strategy that unites the ongoing divestures is the same furrow now being ploughed by several B2B media operators. Sales of classified ads have been falling in the UK through tough economic times, especially at consumer news publishers. Most of those – including Trinity Mirror, A&N Media and Johnston Press – have long since branched out from print small ads and now operate several specialist job websites like TotallyLegal and big-brand sites like Jobsite.
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