, Inc., has sold its brand name and relatedmedia assets for $16 million in cash to QuinStreet, Inc., Inc., company intends to change its corporate name toLife Quotes, Inc., and will continue its business under the LifeQuotes and Consumer Insurance Guide brand names.


The company will retain all of its remaining balance sheetassets, national brokerage contracts with life insurance companies,licensed insurance agents, call center operations, customer andprospect lists, and nearly all of its current inbound affiliate andtraffic partnerships.


The name and Web site originally were acquired in2001 for $1.6 million. Revenue from this asset sale transactionwill be recorded as an extraordinary, one-time gain in the fourthquarter of 2009.


"We have sold our name and specified Web site contentin a significant cash transaction we think is in the best long-terminterest of our shareholders," says Robert Bland, chairman and CEOof the new Life Quotes, Inc. "This transaction has other benefitsto our shareholders and employees in that it will allow us to focuson our brokerage operation and insurance marketing businesses. As aresult of this transaction, we are projecting reduced revenues ofapproximately 10 to 15 percent with increased marketing expensesfor the next two to six quarters as we rebuild under a new brandname and move from a content-based Web site to a transaction-basedWeb site."

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