The company will use its cable universe and Web family of brands to partner with Century 21, Coldwell Banker, ERA and Sotheby's International Realty.
It will reach an estimated 250,000 real estate sales associates in the U.S. and another 700 independent brokerage firms.
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"FrontDoor closes the loop for the millions of home enthusiasts," said John Lansing, president of Scripps Networks in Knoxville, Tenn., which reaches a universe of 95 million cable households.
The play for national real estate revenues also signals that the company is ready to tap into the value of 40,000 hours of Scripps digital programming to bring entertainment and information to the process of buying, maintaining and selling a home.
HGTV is the No. 1 home and garden content site on the Web, with users typically also visiting one or more of the top 10 real estate sites in the nation, the company said.
Now Americans looking to buy or sell a home have a Scripps Networks-affiliated listing service, officials said. "That's 11.5 percent of the market," Bliss said
FrontDoor will be part of Scripps Networks Interactive when that company breaks away from the Cincinnati-based newspaper group - a deal that is on track to close in the first quarter of 2008.
Shopzilla, uSwitch and UpMy- Street will also be part of the company.
These businesses have combined annual revenue of about $1.4 billion and 2,100 employees.
E.W. Scripps, the newspaper, broadcast television station and syndication arm, will have $1.1 billion in revenues and employ about 7,100 people after the split.
At Scripps Networks, third-quarter revenue grew 16 percent year-over-year to $289 million.
Segment profit for the division increased 18 percent to $137 million while online advertising revenue at Scripps Networks was up 31 percent to $17.3 million, driven by robust advertising at the HGTV family of brands.
Scripps shares closed Wednesday at $43.60, up 60 cents.
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source: news.enquirer.com