Moving to boost its online real estate listings, newspaper publisher AH Belo (NYSE: AHC) (NYSE: BLC) has led a $2 million investment in online real estate brokerage Sawbuck Realty. Sawbuck’s service lets people search for listings and then connects them with real estate agents. It takes a cut of any resulting sales. The company’s service currently only exists in Washington D.C. and Southern California but it plans to use the new funds to expand into additional markets, including North Texas and Rhode Island, where AH Belo owns papers, according to a report in the AH Belo-owned Dallas Morning News. In Dallas, at least, AH Belo will integrate the Sawbuck service into its own site. Says AH Belo CEO Robert Decherd in a statement, “As more people use the Internet to get information and make important decisions—from reading the news to finding a restaurant to shopping for a home—we are committed to offering the most comprehensive local news and information sources.” Release.
By Joseph Tartakoff