We usually write about companies buying each other, but in this case, Hearst Corporation is going against the trend: it has sold its stake in Local.com.
“Hearst Corp., which earlier this year made a private placement investment in local search engine Local.com debt and warrants convertible into a 22% stake in the company, has apparently converted the securities into common stock and sold all of its share in the open market,” reports Eric Savitz for
Hearst Sells Stake In Local.com
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