Daily Real Estate News  |  October 9, 2007  |   Realogy, Better Homes & Garden Team Up for Franchise
Magazine publisher Meredith Corp. announced Monday that it had licensed its Better Home and Gardens brand to Realogy Corp. — owner of Century 21, Coldwell Banker, and ERA — so that it can create a Better Homes and Gardens residential real estate franchise system.

In return, Des Moines-based Meredith will receive royalty payments based on sales. Realogy has also agreed to buy advertising in Meredith publications and to sell magazine subscriptions through the real estate franchise.

Realogy plans a July 1, 2008, launch of the Better Homes and Gardens Real Estate franchise system. Financial terms of the transaction weren’t disclosed.

Realogy President Richard A. Smith says the agreement demonstrates his company's confidence in the long-term strength of the housing market "and the favorable demographic factors that will continue to drive homeownership and household growth during the years and decades to come."

Better Homes and Gardens magazine has a circulation of 7.6 million and a readership of nearly 40 million. The company also publishes Ladies' Home Journal, Family Circle, Parents and More magazines and it publishes more than 200 special interest publications, most of them related to home and garden topics.

Source: The Associated Press (10/08/07)