London Firm Invests in Internet Businesses

February 25, 2000

United News & Media will invest 370 million pounds sterling in its Internet businesses over the next two years. Agricultural markets will be part of the mix.

Some 270 million pounds will be invested in Europe, and 100 million pounds will be invested in North American activities, mostly the company’s online business. In "business-to-business" within Europe, United’s initial focus will be on areas where the company already has established positions within markets.

Markets offering e-commerce potential, such as entertainment technology, music, building, interiors and agriculture will be taken online. About 50 million pounds will be invested in those markets.

Each business will be supported by shared applications and technology. The division will be managed by a small team, dedicated to providing the momentum to succeed in the rapidly evolving Internet environment, the company said.