BLOOMBERG -- July 11-- John Fairfax Holdings, Australia's second-largest newspaper publisher, bought online dating agency RSVP.com.au for A$38.9 million ($29 million) to bolster its classified advertising revenue. RSVP is expected to earn at least A$4 million in the next 12 months. Classified advertising in Fairfax's newspapers, including the Sydney Morning Herald and Melbourne's Age, has fallen almost 25% in the past five years as advertisers migrate to the Internet. RVSP was founded on Valentine's Day 1997, has about 600,000 members, and is adding about 20,000 new members a month .
The full article was originally published at Bloomberg, but is no longer available.
Mark Brooks: Wait until Craigslist comes to Australia. Then the classifieds numbers will really plummet. Craigslist is going to singlehandedly castrate many smaller newspapers around the globe...eventually. Have you seen all the new cities Craigslist is opening in? FYI, I own Markslist.com.