Newsagents wondering about their future business model need only read the article on Page 48 of today’s Australian Financial Review about how Michael Hannan is spending some of the $500 millioin paid by News Ltd for his IPMG publishing company. Of note is his re-launched Homehound site – it’s the best real-estate site in Australia at present in terms of the user interface.
Hannan clearly believes that online is a key growth area despite that categories such as real-estate are already well covered by the likes of Fairfax and News.