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IFilm to sell publishing arm

Cyberbiz Brief

Online film portal iFilm confirmed Tuesday that it is seeking a buyer for its publishing division, which includes popular resource the Hollywood Creative Directory and Lone Eagle Publishing.

The Hollywood-based company, which is looking to steer its efforts away from business-to-business ventures and focus more on its consumer offerings, including iFilm.com, is said to be asking roughly $8 million for the publishing arm. The division is said to have generated record growth and record profits over the past year.

IFilm said that no deal was officially on the table as of yet.

“We’re only selling if we get the right price and the right deal,” an iFilm spokesman said.

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