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WebMediaBrands Inc. announced today that it will sell the company’s Internet.com division to QuinStreet, Inc. for $18 million.

The WebMediaBrands Board of Directors unanimously approved the transaction, but completion of the agreement is still subject to approval by the company’s stockholders. Chairman and CEO Alan M. Meckler and other stockholders who hold about 39.5 percent of the company’s outstanding stock have agreed to vote 37 percent of that stock in favor of the transaction.

This leaves Mediabistro.com as the core of WebMediaBrands’ online business, along with Graphics.com and other related job boards, online education offerings and trade shows.

“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 BtoB communities in the non-tech space,” Meckler said.

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