forms JV with is doing a joint venture with

Automotive digital business 112 Pty Ltd and Fairfax Media’s have announced the formation of a 50:50 joint venture in the online new car sector.

Fairfax will licence the Drive brand and URL to 112, which currently owns and operates, a unique independent online car-buyer resource.

The principals of 112 have deep industry experience, in particular around online automotive, and in creating successful and compelling offerings to car dealers and new car buyers alike.

The team includes the original founder of Discount New Cars website and former Chief Operating Officer of Carsales, Shane Pettiona, who will take on a Director role; former Chief Executive Officer of Tyresales and former Carsales senior executive Anthony Pettiona, who will take on the role of CEO; as well as automotive sales expert with extensive dealership relationships Con Lagos, who will hold the position of National Dealer Director.

112 will operate both the Drive brand and with editorial content, with Fairfax continuing to publish the print Drive sections with content supplied by the joint venture.

Fairfax Media’s Managing Director of Life Media & Events, Andrew McEvoy, said: “The founders of 112 have an impressive history of leading innovation in the online car space with a proven track record of digital experience and an exceptionally strong network of manufacturer and dealership relationships.

“Fairfax will continue to publish world-class video and written car reviews in digital and print. This initiative will help consumers act on their motivation to buy a new car – connecting them directly with the dealers who can offer them the best cars, the best service and the all-important best value for money.”

Source: Fairfax Media

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