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Tribune Interactive Acquires ForSaleByOwner.com
CHICAGO, May 22, 2006 -- Tribune
Interactive, a subsidiary of Tribune Company (NYSE: TRB),
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 www.tribuneinteractive.com.
* based on January-December 2005 average
monthly unique visitors
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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.
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