Tribune Interactive Buys ForSaleByOwner.com
Tribune Interactive, a subsidiary of the Tribune Co., acquired ForSaleByOwner.com yesterday to further itself in the online real estate classifieds market.
Tribune Interactive, which manages the interactive operations of the Los Angeles Times, the Chicago Tribune and eight other publishing sites, did not disclose financial terms of the deal.
ForSaleByOwner, which lists thousands of homes on its Web site, and has more than 1.6 million unique monthly visitors, will continue operating as a separate site with the same management, Colby Sambrotto, COO, ForSaleByOwner, said.
The two companies will grow in the lucrative online real estate listings market by marketing each other's services. "There are a number of things we have been working on to co-promote. There will be significant opportunities in both businesses," Tom Fink, vice president of development, Tribune Interactive, said.
On ForSaleByOwner, homeowners, real estate brokers and others pay an advertising fee that ranges from $90 to $900 per ad, depending on how long the ad runs and whether they purchase other services.