Editing James Packer (section)

===Early internet investments===
Following the dotcom crash of 2000–2001, Packer acquired stakes in the online classified sites [[Seek Limited|Seek]] and [[Carsales.com]], believing that newspaper companies relying heavily on classified advertising were vulnerable to online companies in categories including employment and vehicle listings.<ref name=williams>{{cite book |author=Williams, Pamela |title=Killing Fairfax: Packer, Murdoch & The Ultimate Revenge |publisher=HarperCollinsPublisher |year=2013 |isbn=9780732297664 }}</ref>{{rp|15}}

Packer purchased a 25% stake in SEEK for A$33 million in August 2003. He sold most of his stake six years later for A$440&nbsp;million.<ref name=williams/>{{rp|53}}<ref name=williams/>{{rp|242}} At Packer's urging, the magazine group then controlled by his family, [[Are Media#Australian Consolidated Press|Australian Consolidated Press]], acquired a 41% stake in online advertiser Carsales in October 2005.<ref name=williams/>{{rp|101}} The deal, initially valued at A$100 million, was eventually worth A$462 million to Packer-controlled entities.<ref>{{cite news |first=Adele |last=Ferguson |work=The Sydney Morning Herald|title=Online boom shows much more pain still to come for retailers|date=24 May 2011 |url=http://www.smh.com.au/business/online-boom-shows-much-more-pain-still-to-come-for-retailers-20110523-1f0ov.html |access-date=21 October 2013}}</ref>