Classified Ventures, LLC to explore strategic option for its Apartments.com business
CHICAGO, Sept. 3, 2013 /PRNewswire/ -- Classified Ventures, LLC ("CV"), a leading provider of digital marketing solutions in the automotive and apartment rental categories, announced today that it has engaged Moelis & Company, LLC to help explore strategic alternatives for its Apartments.com business.
This process will not impact CV's Cars.com business.
Over the next few months, it is expected that the CV board of directors and management team will evaluate a variety of strategic options for the company's Apartments.com business which includes category-leading sites such as Apartments.com, RentalHomesPlus.com, and ApartmentHomeLiving.com.
No decision has been made to enter into any transaction at this time, nor is there any assurance that CV will enter into any transaction in the future.
About Classified Ventures, LLC
Classified Ventures, LLC helps shoppers find the perfect apartment or car through its award-winning websites, including Cars.com and Apartments.com. 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 The Washington Post Co. (NYSE: WPO), Classified Ventures seeks to capitalize on revenue growth in online advertising in the automotive and rental categories. For more information, please visit www.classifiedventures.com.
About Moelis & Company, LLC
Moelis & Company is a leading global independent investment bank that provides financial advisory, capital raising and asset management services to a broad client base including corporations, institutions and governments. With 600 employees, Moelis & Company serves its clients through offices around the world in New York, Beijing, Boston, Chicago, Dubai, Frankfurt, Hong Kong, Houston, London, Los Angeles, Mumbai, Palo Alto, Paris, and Sydney. For more information, please visit www.moelis.com.
SOURCE Classified Ventures, LLC