Industry NewsNews Brief

2 more high-profile casualties of the overseas property slump

From Global Edge
Published on Mar 12, 2009

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Fox TV-owned Real Estate TV and property CRM and networking company PropTrack are the latest victims of the harsh trading conditions facing the overseas property industry.

Real Estate TV has ceased trading with immediate effect, and their entire workforce has been made redundant. Fox TV bought the station in January last year for an undisclosed sum stating that: "RETV is addressing an attractive and underserved media market with strong growth potential." Nobody at the station was willing to comment on their decision to close the station, but Globaledge understands that there are plans to revive the brand when economic conditions improve.