Nine Exits Online News Venture
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Nine Entertainment has quit its 50 percent stake in Daily Mail Australia, an online tabloid launched two years ago.

The local online edition of the Daily Mail will henceforth be wholly owned by its British parent company, the Daily Mail and General Trust.

“Both companies felt that in a changing media landscape the needs of the Web site were best served by sole ownership going forward,” Global MailOnline chief executive Martin Clarke said in a media statement. 
 “We are now planning for even more investment in our editorial and commercial offerings.”

The AAP newswire notes that Nine’s Ninemsn news Web site and Daily Mail Australia have struggled in competition with each other.