PARSIPPANY, N.J. -- Better Homes and Gardens will formally reintroduce its real estate brand next week, with a press conference and webcast on July 23, 2008. The brand was once widely seen on America's front lawns until it was purchased by GMAC and rebranded. (The webcast can be viewed here on July 23, 2008 at 8:30 a.m. PT / 11:30 a.m. ET.)
Realogy Corporation, the parent company of Century 21 and Coldwell Banker and others, is licensing the name from Better Homes and Gardens publisher Meredith Corporation.
"This is a tremendous opportunity to capitalize on the power of America's leading consumer magazine brand on behalf of the world's most successful real estate franchise company," said Meredith President and Chief Executive Officer Stephen M. Lacy.
"We are very pleased to add Better Homes and Gardens Real Estate to our family of real estate companies, and we are equally proud to be entrusted by Meredith with the stewardship of this well-known and respected brand that is so deeply tied to the concept of owning and improving one's home," said Richard A. Smith, Realogy's vice chairman and president. "Looking more broadly, this agreement demonstrates our confidence in the long-term strength of the housing market, particularly in the U.S., and the favorable demographic factors that will continue to drive homeownership and household growth during the years and decades to come."
The licensing deal is for a 50 year term.
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