eBay selling Rent.com to PRIMEDIA

Axed to focus on e-commerce and payments

eBay is selling of Rent.com to PRIMEDIA as the online auction company shifts away from classifieds and listings to focus on e-commerce and payments. Financial terms of the deal are undisclosed. eBay bought Rent.com for more than USD400m in late 2004, hoping to buy its way into a new segment of the online real estate market, but recently eBay has been focused on expanding its PayPal payments business and improving its main online marketplace. PRIMEDIA already owns ApartmentGuide.com, Rentals.com, RentalHouses.com and NewHomeGuide.com.

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