[Techtaffy Newsdesk]
Demand Media is separating its businesses into two independent, publicly-traded companies. The first would be a pure-play media company, and the other a domain services company.
Richard Rosenblatt (Chairman and CEO, Demand Media): We intend to appropriately capitalize both companies to pursue their distinct growth opportunities, such as the upcoming launch of new generic Top Level Domains that is a transformative event for our domain services business, as well as further diversifying our content offerings in our media business.
Demand Media says it expects the split to take place in the next nine to twelve months. The transaction is subject to a number of conditions, including final approval by Demand Media’s board.