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Scoot has sold the Loot free-advertising newspaper to Daily Mail & General Trust for £45m, and is now seeking a buyer for its remaining businesses.

Scoot is to shed 285 jobs and stop any further expansion of its online directories business, while a cash injection is being sought to secure its future.

Scoot has acquired Loot, the free-ads newspaper, for £190m, in order to attract more readers to its online and interactive TV services.

Scoot is linking up with Cambridge Positioning Systems to develop location-based mobile internet services, which could for example be used to book a nearby restaurant and then receive a map showing how to get there.

Scoot, the telephone and internet directory service, is setting up a 44,000 sq ft office in Uxbridge.
27-Mar-2000 has secured £100m of new funding from Vivendi of France, in order to expand its telephone and internet directory service.

Scoot is in discussions to acquire Diva Solutions, the internet software company, in order to help with the development of its online directories.