and will revive an alliance with the Thousand Oaks, Calif., Web site operator in settlement of litigation between the companies.
The companies on Friday said they had settled a lawsuit that Cendant filed in July against Homestore.com and its subsidiary, RealSelect Inc. The suit sought more than $300 million in damages, claiming the Homestore firm breached a contract by failing to grant Cendant an equity interest before it went public.
Homestore.com operates Web sites for the National Association of Realtors, the National Association of Home Builders, as well as a commercial real estate site, and various consumer real estate sites. Cendant Corp. is a travel services, real estate, and alliance marketing company. Its real estate division includes Cendant Mortgage of Mount Laurel, N.J., as well as the Century 21, Coldwell Banker, and ERA real estate franchises.
Under the settlement, Cendant will endorse Homestore's Web page services for its real estate affiliates and will provide about 400,000 electronic listings to Homestore for on-line distribution.