Nine Entertainment aims to grow its presence in the lucrative online car advertising market after buying a controlling stake in review website CarAdvice.
Nine has not disclosed the terms of the deal, which includes a path to taking total ownership within three years, but say its equity injection into CarAdvice positions the business for its next stage of growth.
CarAdvice, started by car enthusiast Alborz Fallah in 2006, is now one of Australia's leading online car reviewers with a team of more than 30 experts, with offices and test garages in Sydney, Melbourne, Brisbane and Perth.
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