Industry News

Media giants penetrate real estate lead business directs consumers to local newspapers' listings

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Don't count newspapers out of the online property listings market. Chicago-based Classified Ventures LLC, which is owned by six major media companies, is working to establish a stronger Web presence for newspapers' home listings. Homescape, a division of Classified Ventures, has been tinkering for the past year with, a site that functions as a national portal for newspapers' property listings. There are mirror sites at and "There has been a lot of growth over the last several years in the traffic and the usage on the real estate side, and a lot of growth recently," said Sam Sebastian, senior vice president and general manager for Homescape. "In my opinion, newspapers haven't really been focused as closely on this segment as they should have been." He added, "Increasingly, it appears 2005 is going to be the year we really focus on real estate. Our newspapers are right in the fray – when the time is right, they will be right where ...