REA abandons Rightmove pursuit after latest rejection

The Rightmove online property portal began in a garage. (Image: Rightmove)

Tue, 01 Oct 2024

By Ian Walker Australia’s REA has abandoned its pursuit of UK peer Rightmove, which rejected a sweetened US$8.29 billion offer by the property-listing giant controlled by Rupert Murdoch’s News Corp.The retreat comes as the mogul faces a succession battle in a court in Nevada and amid long-running calls by activist investors in News Corp to shed its digital real-estate assets.The Australian real-estate advertiser said Monday that it doesn’t intend to make another offer for Rightmove. It said its initial approach was driven...

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