Google looking to sell Zagat: report

01/03/18 02:32 PM EST

Alphabet Inc. (GOOGL)(GOOGL) is considering selling the Zagat restaurant-reviews property six years after acquiring it. Google, which reportedly paid more than $100 million for the property, has talked with multiple interested parties about selling Zagat, Reuters reported Wednesday (https://www.reuters.com/article/us-alphabet-zagat/alphabets-google-explores-sale-of-restaurant-reviewer-zagat-sources-idUSKBN1ES1RZ) based on anonymous sources. Google bought the service after reportedly exploring the purchase of Yelp Inc. (YELP) and Groupon Inc. (GRPN), and eventually reached a settlement with the Federal Trade Commission resulting from the search engine's use of content from sites like Yelp. Yelp recently formally accused Google of breaking the rules (http://www.marketwatch.com/story/yelp-accuses-google-of-unfairly-scraping-its-content-2017-09-11) it agreed to in that settlement. Alphabet class A and class C shares hit all-time intraday highs in Wednesday's trading session.

-Jeremy C. Owens; 415-439-6400; AskNewswires@dowjones.com

 

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01-03-18 1432ET

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