Tribune Interactive Acquires ForSaleByOwner.Com
Posted on: Monday, 22 May 2006, 15:01 CDT
CHICAGO, May 22 /PRNewswire-FirstCall/ -- Tribune Interactive, a subsidiary of Tribune Company , today announced that it has acquired ForSaleByOwner.com, a nationwide real estate website that directly connects home buyers and sellers through private party residential property listings. Financial terms of the transaction were not disclosed.
ForSaleByOwner.com provides home sellers with an efficient and affordable platform that includes all the tools needed to successfully sell a home. The company charges an advertising fee for homeowners to list a home for sale on the site. Prospective home buyers can browse the ForSaleByOwner.com database of properties at no charge.
ForSaleByOwner.com currently lists tens of thousands of homes on its website. In 2005, ForSaleByOwner.com had more than 1.6 million average monthly unique visitors, making it a top 10 real estate site according to comScore Media Metrix.*
"Our acquisition of ForSaleByOwner.com extends our long history of providing consumers with the opportunity to advertise a home for sale as a private party listing," said Tim Landon, president of Tribune Interactive. "We also remain strongly committed to realtors, to whom a majority of consumers turn for real estate transactions."
In addition to its listing services, ForSaleByOwner.com offers all home buyers and sellers a wide range of resources related to:
-- Home Buying and Selling Advice: instructional guides and personalized customer support -- Moving Services: information on relocation and moving companies, utility connections and home inspections -- Financial Services: online mortgage applications, mortgage calculators, financing information, appraisals, title search services and credit reports -- Neighborhood Information: city profile database, cost of living comparisons, school reports and crime statistics -- Home Improvement: access to tutorials, advice and nationwide contractor listings
"The combination of ForSaleByOwner.com and Tribune is a natural fit, offering unmatched value and choice for consumers," said Damon Giglio, founder and president of ForSaleByOwner.com. "We've built the country's largest online source of private party listings, and we'll continue to grow our network to maintain that leadership."
ForSaleByOwner.com provides home buyers and sellers with a variety of options to create and review private party home listings. Advertising services offered by ForSaleByOwner.com range in price from approximately $90 to $900, depending on the duration of advertisement and other services purchased by the home seller.
"We're delighted to have Damon Giglio and his experienced team join Tribune Company," continued Landon. "This acquisition reinforces the company's commitment to expand its interactive portfolio in ways that create clear value for consumers, advertisers and investors alike."
For more information about Tribune Interactive, visit http://www.tribuneinteractive.com/ .
* based on January-December 2005 average monthly unique visitors About Tribune Interactive
Tribune Interactive, a subsidiary of Tribune Company, manages the interactive operations of major daily newspapers such as the Los Angeles Times, Chicago Tribune, Newsday and their associated websites, plus all aspects of Tribune's print and online classified advertising operations. Its national classified sites include CareerBuilder.com, Cars.com and Apartments.com. With more than 50 websites overall, Tribune Interactive ranks among the nation's leading news and information networks. The sites attract more than 14 million unique visitors per month.
Tribune Company
CONTACT: Mary Alyce Buck of Tribune Interactive, +1-312-222-5573,mabuck@tribune.com , or Jill Feldman of Michael Kaminer Public Relations,+1-212-627-8098 x14, jill@mkpr.com
Web site: http://www.tribune.com/http://www.tribuneinteractive.com/http://forsalebyowner.com/
Source: PRNewswire-FirstCall
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