Murdoch unveils new Internet ad service in Australia

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SYDNEY--Lachlan Murdoch, deputy chief executive of News Limited, has unveiled an improved version of the company's Internet classified ad service.

He believes Newsclassified is "now the global leader in Web site design and advertising volume," with the service generating about $0.2 million in revenues per quarter after only six months on the World Wide Web.

The enhanced system carries classified ads from 65 of the group's 115 Australian publications.

"Every week there are more than 250,000 ads in seven categories," says Murdoch. "Our two million hits a month put us in a class apart."

Advertising sales director Peter Littleboy says there is no extra charge for running the ads, which first appear in News Limited newspapers. The sole revenue stream is from advertisers placing their own ads on the various pages of the Newsclassified Web site. Murdoch will not divulge the level of investment needed to create the service.

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