RealEstate.com today announced that it has discontinued its negotiations for its previously planned acquisition of the Menlo Park, Calif.-based HOMES.COM, a division of PCL Media, Ltd.

According to Alan F. Daniels, chairman and CEO of RealEstate.com, the parties mutually decided to terminate the discussions. "In the final stage of negotiations, we were unable to reach an agreement that was acceptable to both companies," stated Daniels.

There will not be any major changes in the services RealEstate.com has always offered homebuyers, Daniels said. "We've recently redesigned our Web site to better meet consumers' needs, and the response from both consumers and industry professionals has been tremendously positive," he noted.

"HOMES.COM remains committed to providing the very best real estate experience on the Web," noted HOMES.COM President and CEO Robert Prince, "We're excited about the future. Our online tools make the entire process easier to understand, less costly, and more efficient, and consumers and real estate professionals alike are responding to that."

Published: October 13, 1999

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