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Law firm advises on News Limited's parenting buyout
Arnold Bloch Leibler acted for the owners of online parenting and pregnancy guide, Kidspot, in relation to its sale to Australian media giant, News Limited.
The New Lawyer
ARNOLD Bloch Leibler acted for the owners of online parenting and pregnancy guide, Kidspot, in relation to its sale to Australian media giant, News Limited.
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News Limited is thought to have paid $45 million for the popular network, which includes Kidspot.com.au and Birth.com.au, as well as the SheSpot advertising portfolio.
The online start-up Kidspot was founded in 2005 by chief executive, Katie May, who is a former marketing director of online employment website, SEEK.
The online maternity and parenting websites attract approximately 1.3 million visitors a month and currently account for around 10 per cent of the total online fast moving consumer goods advertising market.
Arnold Bloch Leibler has previously represented SEEK, Carsales, CatchoftheDay and Scoopon.
The matter was conducted by Arnold Bloch Leibler partner, Jonathan Wenig, and lawyers Jeremy Lanzer and Tegan Rudolph.
Wenig said: “Arnold Bloch Leibler has acted for Kidspot since its inception, and is proud to involved in this milestone for the business and its owners."
News Limited chief John Hartigan described the acquisition as a transformational deal that "makes us the leading player in the highly valuable online parenting market".
