Dec 17 (Reuters) - REA Group Ltd REA.AX :
* MOVES TO CONTROLLING INTEREST IN ELARA
* REA'S SHAREHOLDING IN ELARA INCREASED TO 54.3% FROM 13.5%
* CONSIDERATION PAID WAS US$34.5M CASH (A$48.9M) AND ISSUE OF 318,323 NEW REA SHARES
* NEWS CORP HAS ALSO SUBSCRIBED FOR US$34.5M OF PREFERENCE SHARES IN ELARA, AND ITS SHAREHOLDING IN ELARA HAS INCREASED TO 39.0%
* HAS OFFERED TO ACQUIRE REMAINING 6.7% MINORITY INTEREST IN ELARA
* CONSIDERATION FOR REMAINING MINORITY INTEREST WILL BE PAID BY ISSUE OF A MAXIMUM OF 107,355 REA SHARES
* HAS RIGHT TO APPOINT 5 OUT OF 9 ELARA BOARD SEATS & WILL CONSOLIDATE ELARA'S FINANCIAL RESULTS EFFECTIVE 31 DEC