Dominion Enterprises Looking to Sell

Dominion Enterprises, the owner of sites like ForRent.com, Homes.com, CorporateHousing.com and many other sites, announced that they may be looking to sell. They have hired J.P Morgan and Lehman to help in the process if they decide to sell.

In September 2006, Dominion Enterprises was established following a division of assets of its predecessor company, Trader Publishing Company, between shared owners Landmark and Cox Communications, Inc. Landmark took the assets that are now known as Dominion Enterprises.

Landmark Communications CEO Frank Batten, Jr. said, “At this early stage, we cannot speculate on where this process will lead. We will consider various options, and, at the end, we will advise employees and customers of our conclusions.”

“Landmark’s weather, publishing, broadcasting, interactive and information businesses all have leading positions in their markets and have strong growth opportunities,” Batten said. “As we go through this process, we will continue to invest in these operations.”

Recently, Dominion Enterprises acquired the assets of AVV, Inc for $22.75 Million. I think Dominion will continue to move forward and acquire more companies this year even if a sell of the company is inevitable. We may see a dramatic increase in top level revenue growth across all of Dominion’s properties this year which is estimated to be close to $1 billion.