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Primedia to buy Rent.com from eBay

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In a move that it says will offer its advertisers more options and greater visibility, rental search company Primedia Inc. has announced it will acquire eBay subsidiary Rent.com for an undisclosed amount. Primedia, based in the Atlanta area, said it had entered into an agreement to buy Rent.com in a transaction expected to close in second-quarter 2012. Online auction and shopping company eBay acquired Rent.com in February 2005 in a deal valued at about $415 million. Primedia owns several property search sites, including ApartmentGuide.com, Rentals.com and RentalHouses.com.While Primedia's websites are based on a traditional subscription model, Rent.com has a pay-per-lease model in which the site charges a "success fee" when a renter who finds the property on Rent.com signs a lease, Primedia told Inman News. Rent.com also gives tenants a reward card when they sign a lease on a property found through the site. "The acquisition will give clients of each of (Primedia'...