ACP looks for loot in classified ads

By SIMON HENDERY

Publishing giant ACPMedia has expanded its classified advertising business with a new weekly magazine in Auckland.

ACPMedia subsidiary Trader International Group this week launched the Auckland edition of Loot, a weekly A3-sized classified tabloid, which will compete with titles like Trade & Exchange.

ACPMedia, part of Kerry Packer's Australia-listed Publishing and Broadcasting, bought Hamilton-based Loot last year.

Also last year it bought 15 classified titles, including Property Press and Motor Press, from Barry Colman's Liberty Press. It said it wanted to become a major player in the classified market.

Trader International chief executive Keith Falconer said yesterday that the company believed the Auckland market was big enough to support two general classified publications.

He hoped Loot's price of $1.50 would help sales. Trade & Exchange, published twice a week, costs $2.80 an issue.