APN News & Media, is buying half of classifieds website finda.co.nz to boost its presence in the online classified market.

It is a further shake-up of online advertising companies owned by traditional print media.

Earlier this week, APN’s rival, John Fairfax Holdings, announced Fairfax Digital news website Stuff.co.nz was abandoning its job and real estate listings to its internet auction site Trade Me.

Stuff would focus more on news and develop more lifestyle and entertainment content.

Finda managing director Shane Bradley, who founded the company in February 2004, said in the New Zealand Herald that the APN investment had given the company the ability to redesign the website and introduce a raft of new services, such as reviews of businesses, and advanced mapping.

The sale price was not disclosed.

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