Where Real Estate Gets Its Dirt

No timetable set for sale of Dominion Enterprises

Kiss The Rabbit!
Kiss The Rabbit!

Landmark Communications had boldly predicted that they would have all assets, including Dominion Enterprises, sold by the end of 2008. Now they are singing a different tune according to an article put out by the Virginia Pilot. Here’s an excerpt…

“The national credit problems have slowed the sales of all of Landmark’s other properties, including The Virginian-Pilot and Dominion Enterprises, an information and marketing services company based in Norfolk, said Richard F. Barry III, vice chairman of Landmark.

“The sales process has been cramped by the credit crunch,” Barry said. “Buyers are having difficulty obtaining financing everywhere for everything.”

Barry declined to say how close Landmark was to completing the sales of The Pilot and Dominion Enterprises. Landmark, he said, still expects to sell all of its businesses.

Barry said his previous prediction that all of the transactions would be completed by year’s end “is getting to be a little bit of a stretch.” He declined to offer a revised timetable.”

Many of our readers know that Dominion Enterprises’ division, Dominion Homes Media (DHM), owns eNeighborhoods, Advanced Access, Homes.com, Katabat, and Best Image Marketing (Number 1 Expert). Looks like these lads will be in limbo-land for the foreseeable future.

I can tell you from personal experience that working for a company that is trying to sell itself is not much fun. I been through it many times. But I also know a lot of talented people work for DHM so hopefully they can keep everyone focused.


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