Quote:
Tribune buys Real Estate Web Site
CHICAGO (AP)--Newspaper publisher Tribune Co. on Monday said its online unit acquired Internet real-estate Web site ForSaleByOwner.com for undisclosed terms.
The Web site allows home owners to advertise directly to buyers.
Tribune's Interactive unit, which handles the online operations of Tribune papers such as the Los Angeles Times and Chicago Tribune, will operate ForSaleByOwner.com.
Tribune shares fell 22 cents to $27.80 in late afternoon trading on the New York Stock Exchange.
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This is interesting, as it puts realtors in direct competition with newspapers. I know that in my area, realtors use some questionable methods to keep FSBO listing operations sidelined. Not to mention that my state rep owns the largest realty office in town.
Could a powerful newspaper break the realtors grip on home sales?