News Limited sells True Local to Sensis
News Limited has offloaded online directories business True Local to Telstra’s digital arm Sensis.
The move effectively divests News of a legacy branch of the News Digital Media operation, which was rolled into other departments last year amid a company restructure.
It effectively takes the directories back under the purview of John Allan, who was CEO of the directory at News Limited for over three years.
In a statement today Sensis said the acquisition would “add value to the Yellow Pages network”.
Allan (pictured) added: “TrueLocal has built a strong reputation in connecting consumers with businesses across the country, through its high quality local business listings.
“TrueLocal also has an extensive library of ratings and reviews which enables consumers to make
more informed decisions when they search for a local business.
“Consumers’ reliance on this type of content underlines why it’s important to make it accessible –
which drives more traffic to the Yellow Pages network and generates better leads for our customers.”
News’ chief financial officer Stephen Rue said while it is a “terrific” business, it is “no longer a priority” as it looks to concentrate on core assets after recent investments in the Business Spectator and Foxtel, amongst others.
The deal must first get approval from the Australian Consumer and Competition Commission, before it can be completed.
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