MUMBAI: In a calculated move to secure another foothold in booming online classifieds advertising market, Rupert Murdoch's News Corp has hiked its offer for the Australian property portal realestate.com.au to A$2.50 a share from A$2.00 a share.

The media conglomerate now values realestate.com.au at approximately A$269 million.

News Ltd. currently holds a 43.7 per cent stake in Melbourne-based portal. News Corp. had launched the bid early August but only to be rejected by realestate.com.au directors. Then, their argument was that the bid undervalued its shares.

Murdoch had made his intentions clear on the internet side of the media business by acquiring the social network MySpace.com for $580 million in June this year. News Corp's UK satellite operator BSkyB is now close to buying high-speed internet provider Easynet. BSkyB is looking to invest in Easynet to bolster the ways in which consumers can access its content. It plans to raise about ?1bn with a bond issue, ploughing some of the proceeds into acquisitions.

Other key media players pursuing online growth strategies include John Fairfax Holdings Ltd. and Kerry Packer's Publishing & Broadcasting Ltd. Publishing & Broadcasting Ltd recently agreed to combine its online trader business with online car classifieds group carsales.com.au while Fairfax bought online dating venture rsvp.com.au for A$40 million this year.