The Zillow-Trulia merger could throw the listings site powerhouses off their game and create an opening for a new competitor, according to Robert Thomson, CEO of News Corp., which recently acquired Realtor.com.
News Corp. purchased realtor.com last year for $950 million, just in time to see the two of biggest market dominators for listings sites, Zillow and Trulia, have their merger approved by the Federal Trade Commission in February.
While realtor.com currently trails both Zillow and Trulia, Thomson sees the merger as a boon to his site. “As Zillow and Trulia consolidate and try to work out exactly what they are, it’s a real moment for us to try and take advantage of that,” he told an audience at Deutsche Bank’s 23rd Annual Media, Internet & Telecom Conference in West Palm Beach, Fla., according to Capital New York.
“We’re very conscious of potential mayhem at the competitors,” he said, adding that he expects Realtor.com to be able to acquire talent from Trulia over the next six to eight months. [Capital NY] — Tess Hofmann