Newsquest plc, the largest publisher of regional newspapers in England, including The Evening Press, has acquired a 9.9 per cent issue of share capital of Freeserve Auctions Ltd, operators of Internet network provider Freeserve's person-to-person and merchant-to-person auction service.
The shares are in return for £10 million of advertising support in Newsquest's regional titles over the next three years plus £2 million in cash.
Newsquest, a wholly owned subsidiary of the US-based Gannett news and information company, will now drop its own AuctionHunter brand name on its newspaper web sites to incorporate Freeserve Auctions.
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