Telstra abandons real estate mag

CANBERRA - Telstra's Sensis directories and publishing unit has abandoned a weekly Sydney real-estate magazine to focus on internet classified advertising.

Last week's edition of Just Listed magazine, which contained properties in Sydney and the neighbouring Blue Mountains and Central Coast regions, would be the last, said Felicity Hand, a spokeswoman for Sensis, the publishing arm of Australia's biggest phone company.

"It's clear to us our focus should be online because that is where the growth is," Hand said. "We tried, we learned a lot, but we've decided not to continue" with the magazine.

Sensis, publisher of the Yellow Pages, started the Just Listed colour magazine covering Australia's richest real-estate market a year ago as it sought to build on its A$636 million ($687 million) purchase of Trading Post Group, a classified advertising newspaper company.

Hand said Sensis would expand the associated Just Listed website to include properties in other Australian cities, possibly through acquisitions or alliances.

Telstra acquired the real estate website justlisted.com.au along with the Trading Post's 22 classified advertising newspapers and magazines for general items, vehicles and collectables from Amsterdam-based Trader Classified Media in March last year.

Telstra is relying on increasing sales at Sensis, along with demand for its internet and wireless services, to make up for falling sales at its fixed-line business.

- BLOOMBERG