Cendant to Sell Bookstacks

-- Publishers Weekly, 2/22/1999

Cendant Corp. announced earlier this month that it was placing its three Internet companies -- RentNet, Match.com and Bookstacks Inc. -- up for sale. Bookstacks, which was founded in 1992 by Charles Stacks before he sold it to Cendant, markets its titles through www.books.com.

Cendant chairman Henry Silverman said the company decided to put the units on the block because they do not fit with Cendant's core competencies. He said all three companies have had strong revenue gains and, in the aggregate, are marginally profitable.

At press time, Cendant had no comment on whether it would keep books a part of NetMarket, Cendant's discount shopping operation, which charges a membership fee but provides products at a deep discount.

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