CHICAGO, April 1, 2014 /PRNewswire/ -- Classified
Ventures, LLC ("CV"), a leading provider of digital marketing
solutions in the automotive and rentals category, announced that
the sale of its Apartments.com business to CoStar Group, Inc.
("CoStar"), has closed effective April 1,
2014.
The close of sale follows a March 3,
2014 announcement that the company had entered into an
agreement to sell its Apartments.com business for $585 million in cash to CoStar, a leading
provider of commercial real estate research and information
services.
The Apartments.com business includes category-leading sites such
as Apartments.com, RentalHomesPlus.com, and
ApartmentHomeLiving.com.
CV CEO Dan Jauernig shared: "We
are pleased with how smoothly the overall transaction process has
gone, and wish Apartments.com and CoStar great success in the
future."
This transaction will not impact CV's Cars.com
business.
About Classified Ventures, LLC
Classified Ventures,
LLC helps shoppers find the perfect car through its award-winning
Cars.com website. A strategic joint venture among five media
companies including A. H. Belo Corp. (NYSE: AHC), Gannett Co. Inc.
(NYSE: GCI), The McClatchy Co. (NYSE: MNI), Tribune Co. and Graham
Holdings Company (NYSE: GHC), Classified Ventures seeks to
capitalize on revenue growth in online advertising in the
automotive category. For more information, please visit
www.classifiedventures.com.
SOURCE Classified Ventures, LLC