Group Seloger, the owner of the largest property portal site in France - seloger.com, recently acquired the Belle Demeures Group which consists of a monthly print publication of top end properties and a web site (www.belledemeures.fr). The Belle Demeures Group targeted top end properties and therefore this is likely to be a move for Seloger into this segment of the market. The business was acquired for 3.5 million Euro.
Having acquired combined print and online businesses before (Squarefoot in Hong Kong and Albabworld (now propertyfinder.ae) in Dubai) i can say that there is some merit in taking this approach. The acquisition will bolster their revenue however it will come at the cost of margin. The majority of the revenues are likely to come from the print publication and the hope of management at Group Seloger will be to convert the print based advertisers into online advertisers.
What is interesting, is that i believe Seloger used to publish some print publications around the New Homes market and slowly closed these down due to the cost of running them and due to the significantly lower margins versus online.