82.1 F
San Fernando
Saturday, Jun 3, 2023

ValueClick Sells Web Sites

ValueClick Inc. announced late Monday that it has agreed to sell all of its websites to IAC/Interactive Corp., the New York digital media company run by Barry Diller. Last month, the Westlake Village online advertising company announced its intention to sell the website division to concentrate on its affiliate marketing operation that places ads on third-party web sites. The website unit being sold includes the Investopedia financial and PriceRunner price comparison sites. In a statement, ValueClick said the transaction will be paid in cash, but did not specify the amount. After the sale, the dozen or so sites will continue to operate from their current location in Monrovia. The deal is expected to close in January. IAC is a conglomerate website publisher with sites that include Match.com, About.com and Vimeo. Diller, the company’s chairman, was formerly co-founder of News Corp.’s Fox Broadcasting Co. The announcement was made after markets closed Monday. Shares of ValueClick previously closed up $1.38 to $57.64 on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

Featured Articles

Related Articles