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Article: Meredith Corporation to Sell its Real Estate Service to GMAC Home Services
- Article from:
- PR Newswire
- Article date:
- June 29, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DES MOINES, Iowa, June 29 /PRNewswire/ -- Meredith Corporation (NYSE: MDP) announced today that it has agreed to sell the net assets of the Better Homes and Gardens Real Estate Service to GMAC Home Services, Inc., a subsidiary of GMAC Financial Services. In a separate transaction, Meredith and GMAC Home Services will enter into a licensing agreement that authorizes GMAC Home Services to use the Better Homes and Gardens trademark in connection with residential real estate marketing for a period up to 10 years.
Financial terms are not being disclosed, but the transactions will not have a material impact on Meredith's financial performance. Closing is expected ...