07.03.2014 19:57:00
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Graham Holdings Company -- Moody's says distribution from sale of Apartments.com to Graham has no immediate impact on ratings
New York, March 07, 2014 -- Moody's Investors Service ("Moody's") says Graham Holdings Company ("Graham") recently announced the sale of Apartments.com to CoStar Group, Inc. ("CoStar") for $585 million. Apartments.com is a division of Classified Ventures, LLC ("CV"), and Graham expects to receive $95 million pre-tax representing its 16.5% interest in CV. The sale is subject to Hart-Scott-Rodino review and is expected to close in the 2nd calendar quarter of 2014. There is no immediate impact to Graham's debt ratings.