Wednesday, June 24, 2009

Move Sells Welcome Wagon

Westlake Village-based Move, which operates the online real estate site Move.com, Realtor.com, and other related properties, said today that it has sold the assets and certain liabilities of its Welcome Wagon property to South Florida Media Group. Financial terms of the sale were not disclosed. Move has been trying to sell the property since August of 2008, when the firm said it wanted to divest the unit to focus on online real estate. Welcome Wagon provides an online site plus other offline marketing services to people who had recently moved into a neighborhood. Move said that it was advised by investment bank DeSilva+Phillips in the deal.