SUBSEQUENT EVENT

12 Months Ended

Dec. 31, 2018

Subsequent Events [Abstract]

Subsequent Events [Text Block]

SUBSEQUENT EVENTS

Acquisition of Value Holding Inc.

On January 10, 2019, the Company acquired Value Holding Inc., the parent company of ValuePenguin Inc., a personal finance website that offers consumers objective analysis on a variety of financial topics from insurance to credit cards, for $105.0 million in cash at the closing of the transaction, subject to adjustments for working capital. The acquisition was funded through $90.0 million drawn on the Company's Revolving Credit Facility and the balance using cash on hand.

Common Stock Repurchase Program

In February 2019, the board of directors authorized and the Company announced the addition of up to $150.0 million under the stock repurchase program. Between January 1, 2019 and February 28, 2019, the Company purchased 17,501 shares of its common stock for aggregate consideration of $3.9 million. As of February 28, 2019, approximately $181.2 million remains authorized for future share repurchases.

Sale of North Carolina Office Properties

On February 22, 2019, the Company entered into a real estate purchase and sale agreement for the sale of its two office buildings to an unrelated third party. See Item 2. Properties and Note 7—Assets Held For Sale for further information on these buildings. The agreement provides for a sale price of $24.75 million subject to prorations and adjustments. The agreement allows the purchaser a period of inspection through March 28, 2019 during which time it may elect to not proceed with the purchase and receive a return of its earnest money deposit. After such period, an earnest money deposit of $1.0 million would become non-refundable if the purchaser does not purchase the property, subject to certain exceptions.