Equity Offering

6 Months Ended

Jun. 30, 2011

Stockholders' Equity Note [Abstract]

Equity Offering

14. EQUITY OFFERING

During June 2011, the Company completed an equity offering of 4,312,500 shares of common stock for $60.00 per share.  Net proceeds from the equity offering were approximately $247.9 million, after deducting approximately $10.4 million of underwriting discounts and commissions and offering expenses of approximately $500,000.  The Company intends to use the net proceeds from the sale of the securities to fund a portion of the cash consideration payable in connection with its acquisition of LoopNet and, to the extent that any proceeds remain thereafter, or the acquisition is not completed, for  general corporate purposes. General corporate purposes may include additions to working capital, capital expenditures, investments in the Company's subsidiaries, possible acquisitions and the repurchase, redemption or retirement of securities, including the Company's common stock. The net proceeds may be temporarily invested or applied to repay short-term or revolving debt prior to use.