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March 23, 2012

PRIMEDIA to buy Rent.com from EBay

EBay is shifting away from classifieds and listings business and concentrate on its core strength of e-commerce and payments businesses

By CBR Staff Writer

Realty information and listings provider PRIMEDIA has agreed to buy Rent.com from online auction company EBay.

Rent.com is an online listing website for rental properties.

PRIMEDIA president and CEO Charles Stubbs said Rent.com has a strong reputation, brand awareness, history and URL
"Both Rent.com and PRIMEDIA have long track records of delivering a high-quality consumer and client experience in the marketplace," said Stubbs.

This is a bid by EBay to shift away from classifieds and listings business in a bid to concentrate on its core strength of e-commerce and payments businesses.

The details of the transaction, which is expected to close in the second quarter of 2012, were not disclosed.

Rent.com would be an addition to PRIMEDIA’s assets, which include rental websites like ApartmentGuide.com, Rentals.com, RentalHouses.com and NewHomeGuide.com.

PRIMEDIA said its category-leading web sites and mobile applications will be complemented by Rent.com’s successful pay-for-performance business model.

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