Contributed by: Editor on Saturday, July 18 2009 @ 04:32 pm
Last modified on
American Capital Ltd. announced on Thursday that it has completed the sale of People Media to IAC (Match.com's parent company). American Capital received $57 million in cash proceeds and will receive an additional $15 million in the third quarter, to complete the deal. This makes the total sale worth $72 million USD. This is $8 million less than was stated when IAC announced the agreement earlier this month (see Story).
For the full story, read NW32.com.