WebMediaBrands (WEBM)

[aquaspin]

WebMediaBrands Closes Sale of Peoria, Illinois Property
Last update: 12/7/2010 7:00:00 AM
NEW YORK, Dec 07, 2010 (BUSINESS WIRE) -- WebMediaBrands Inc. (WEBM) today announced that it has closed the sale of its Peoria, Illinois real property and building for $1.625 million in cash to Samaritan Ministries International, an Illinois not-for-profit corporation.
"The sale of this property, together with the $1.7 million in cash received on November 30 as final payment for our sale of the Internet.com assets to QuinStreet, Inc. (QNST), has brought in a combined total of $3.325 million in cash proceeds. This incoming cash greatly strengthens our balance sheet and provides additional working capital for both operations and potential acquisitions," stated Alan M. Meckler, Chairman and CEO of WebMediaBrands. "We remain excited about our future business prospects bolstered by these additional assets," added Meckler.