Meckler's WebMediaBrands to sell to exit tech media

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Darien, Conn.—WebMediaBrands announced Monday that it has agreed to sell its division to QuinStreet for $18 million in cash.

QuinStreet, based in Foster City, Calif., is an online marketing and media company. Completion of the transaction is subject to approval by WebMediaBrands' stockholders.

“We believe that this transaction will be beneficial to WebMediaBrands and its stockholders as it will significantly improve our balance sheet and at the same time allow us to focus on growing b-to-b communities in the nontech space,” Alan Meckler, WebMediaBrands chairman-CEO, said in a statement. WebMediaBrands will continue to operate its online business, which consists of, and related job boards, online education offerings and trade shows, according to the company.

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