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