SYDNEY (Dow Jones)--Australia's Publishing & Broadcasting Ltd. (PBL.AU) said Thursday it plans to launch a new online real estate business, myhome.com.au, with Microsoft Corp. next week. In a statement, PBL said the website, which will be 48.75% owned by its PBL Media joint venture with private equity group CVC Asia Pacific, will be aimed at anyone looking to buy, sell or rent residential property. The new site adds to PBL Media's existing online properties, including ninemsn and carsales.com.au. PBL also owns a stake in online recruitment website Seek. myhome.com.au will compete with the likes of Realestate.com.au (REA.AU), part owned by News Corp., and Fairfax Media Ltd.'s (FXJ.AU) Domain website.
REA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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