Woodland Hills, Calif. - United Online (NASD: UNTD), a provider of consumer Internet and media services, announced on Wednesday that it intends to withdraw its registration for an initial public offering of shares for its Classmates Media unit, whose Classmates.com social network counts over 50 million members. The company stated that "proceeding with the IPO under current market conditions would not be in the best interests of its stockholders."

Woodland Hills, Calif. - Classmates Media, a unit of United Online that operates an online social network focused on reuniting schoolmates, expects to raise $117.7 million in its forthcoming initial public offering, Reuters reported, citing a regulatory filing.