RealTime IT News

E*TRADE to Bail Out News Interactive

[Sydney, AUSTRALIA] Rupert Murdoch's News Interactive, which recently faced major reorganization and funding freezes, has announced a partnership with E*TRADE Australia.

E*TRADE will be the exclusive online broker for the finance and trading place areas of the news.com.au portal. E*TRADE said the agreement would extend its exposure to the "financially oriented News Interactive audience." The finance page will include E*TRADE Australia's charts and stock quotes and the trading place area will provide market commentary, educational material and articles.

"News Interactive provides its users with market information that can be used to make educated investment decisions. E*TRADE Australia provides lightning fast order processing so customers can act quickly to capture opportunities," said E*TRADE general manager, marketing, Bill Wileman.

Under the agreement, E*TRADE Australia's promotion will extend throughout other News Interactive sites including AFL, GoFish, CareerOne and direct email to News Daily Headlines and Net News.

australia.internet.com recently reported the resignation of News Interactive executive general manager Bruce Dover. Anonymous 'inside sources' reported "threats from Murdoch of closing the venture down within 12 months if the company couldn't turn around yearly losses of $30 million." (ITNews)