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by CareyBot

Move Inc. officials said Tuesday that they expect a new "transformational" venture -- spearheaded by former Realtor.com president Allan Dalton and outgoing National Association of Realtors chief economist David Lereah -- to cost about $6 million in net expenses and to generate some revenue this year, but offered no specifics about the project. This effort is scheduled to launch in August and is expected be a new "engine of growth" for the company, said Move CEO Mike Long during a first-quarter earnings announcement. He also referred to the veiled project as a "high-potential new venture that is not yet in the marketplace," adding that the company wouldn't be discussing the project at all if it didn't involve such prominent industry figures as Dalton and Lereah. Separate development project...