True Local (News Ltd) and Yellow Pages (Telstra via Sensis) are the two major online business directories in Australia at present. My Local (PBL) is on the track but not achieving much traction due to lack of promotion. 
As this Alexa generated graph of daily reach from the last three months shows Yellow Pages is way ahead but True Local is gaining traction thanks to its extensive outdoor campaign. Fairfax is the only major online advertising player not currently in the space but that could change if the rumor put to me is true. I’m told that Fairfax Digital is close to announcing entry into the now competitive directory space. I wonder if their entry will make for competition on price though. Take a look at the True Local and Yellow Pages advertising fees and you soon get an understanding of the size of the game being played and that there is not significant price competition. While each site offers basic free listings, it is the featured listings and options like photos which bring in the millions in revenue. Charges of between $1,000 and $6,000 for featured display are not uncommon.
A new competitor for the above mentioned sites is http://www.clickfind.com.au, but more than half the price any of them charge.