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| For Immediate Release |
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Lawrenceville, GA – (June 15, 2006) – Network Communications, Inc. (NCI), the leading publisher and provider of printed and online real estate information and advertising in North America, today announced the acquisition of Pittsburgh’s Apartment SOURCE, a multifamily publication (and website www.apartment-source.com) which covers Allegheny, Butler, Beaver, Fayette, Washington, West Moreland and Armstrong counties. NCI acquired the publication from Fairfax Publishing, Inc.
The acquired Pittsburgh’s Apartment SOURCE will merge into the Apartment Finder magazine brand, which currently serves more than 98 markets across the United States. Pittsburgh’s Apartment SOURCE, a digest sized, 4-color, monthly publication, launched November 1998, and is the number two book in the Pittsburgh market in terms of page count.
Apartment Finder already covers several local markets throughout the state of Pennsylvania, however, this latest acquisition is not only the first presence for Apartment Finder in the Pittsburgh market, but also the first for any Network Communications brand.
In the last three years, Apartment Finder's client base has grown 58%, while revenues have increased nearly 160%. Apartment Finder is the preferred choice of critical information for apartment shoppers, and also the top pick for the advertisers that need to find quality renters. In addition to Apartment Finder and Apartment Blue Book publications, NCI operates ApartmentFinder.com, a leading website for people searching for apartments.
“We are on a path of steady growth, and the acquisition of Pittsburgh’s Apartment SOURCE expands our geographic footprint into a multifamily market where we previously didn’t have a presence,” said Marcia Bollinger, Apartment Finder’s Senior Vice President.
Michael Peterson, Central Northeast Regional Director will manage the new acquisition and states, “We’re excited to bring Apartment Finder’s Internet-integrated media business process to Pittsburgh and to provide our advertisers with the quality lead generating tools they need to drive meaningful decisions on how to effectively market their communities.”
About Network Communications, Inc.
Network Communications, Inc. is the leading publisher of printed and online real estate information in North America. The company was acquired by Citigroup Venture Capital Equity Partners in January of 2005. Its magazines are read by over 12 million readers in over 500 markets and deliver more than one million leads to advertisers each month. Network Communications’ assets,
The Real Estate Book, Apartment Finder, Apartment Blue Book, Mature Living Choices, Black’s Guide, New Home Finder, Enclave, Unique Homes, Ultimate Homes, Atlanta Homes & Lifestyles, Atlanta Home Improvement, At Home In Arkansas, Accent on Home and Garden, Accent on Lifestyle, Colorado Homes & Lifestyles, HomeImprovement Dallas, Kansas City Homes & Gardens, Metro Washington HomeImprovement, Mountain Living, Relocating in Las Vegas, St. Louis Homes & Lifestyles, and Seattle Homes & Lifestyles,
include publications that millions of readers around the country turn to when looking for the latest information about the real estate and home design markets.
Online magazine content can be accessed at www.livingchoices.com
Media Contact:
Tami Gross or Jennifer Houston
TMG Public Relations
E: Tami@TMGpr.com / Jennifer@TMGpr.com
P: 212.750.5755