SmartNews signal loud and clear

LITTLE more than two weeks after making its “final” broadcast, Internet financial news site SmartNews is back in business.

It has become part of OzeStock’s Financial Arena, a network of web sites for investors that also includes Free Live Quotes.

Turnbull Porter Novelli managing partner Paul Downie said the two sites had entered into a profit-sharing agreement.

SmartNews was created as a way to guarantee media coverage for clients of public relations firm Turnbull Porter Novelli and also provided some financial news that was largely taken from Australian Stock Exchange announcements.

Directors of SmartNews had been looking for a buyer for the site for some months.

They shed the company’s WA staff in July and took on the services of content provider EditForce in an attempt to make the site more attractive to a purchaser.

And once touted buyer of SmartNews Chrome Global, which entered into adminstration last month, also could

be back in business before too long.

Professional Public Relations WA general manager Paul Niardone’s bid to acquire struggling e-business group Chrome Global appears likely to succeed.

Business News understands Ernst & Young administrator Brian McMaster has completed his report into Chrome and has concluded that Mr Niardone’s offer is the best one for creditors. He is expected to put that suggestion to creditors at their November 26 meeting.

Ironically, Chrome slipped into administration just days before it was to conclude a deal to purchase PPR.

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