As more readers turn to the Internet and mobile telephones for news, Japanese media groups, including newspaper Asahi Shimbun and wire service Jiji Press, will launch an online advertising network, AFP reported Thursday.

Other participants include AFPBB, an interactive Web site; Creative Link, a technology company; Thomson Reuters, CNN and three top financial magazine Web sites.

To leverage economies of scale, the media groups will collaborate to sell ads through the Premium Business Ad Network across thousands of Web sites, according to AFP.

The network is slated to begin operation in April, and will be channeled through Japanese Internet service provider So-net Media Networks Corporation. The ad network will target high-income audiences, aiming to generate sales of about 300 million yen (US$3.3 million) in the first year, AFP reported.

Thomson Reuters media manager Kenichiro Kusuyama told AFP that instead of competing with major Web sites like Yahoo and Google, the plan was to develop a network of specialised Web sites offering high-quality content to businessman.