The Australian media group has purchased 55 per cent of Norstar Media and the same stake in Autohome/PCPop for an undisclosed sum. The businesses operate consumer-focused sites in the auto and electronics sectors.
Norstar owns auto site che168.com and digital technology site IT168.com, while Autohome/PCPop owns autohome.com.cn and gadget site PCPop.com.
Telstra already holds a 51 per cent stake in SouFun, a leading Chinese real estate site.
The company is banking on online advertising in the three sectors to take off. Telstra now owns majority interests in three of the leading Chinese companies operating in the three key online advertising industry segments: real estate, auto and digital devices, said Telstra CEO Sol Trujillo (pictured).
He added that the latest deals cost less than half what we paid for 51 per cent of SouFun in 2006.
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