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Report: Auto shopping site Cars.com put up for sale

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Information about Report: Auto shopping site Cars.com put up for sale

Published on March 10, 2014

Author: childlikeegg1000

Source: slideshare.net

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Report: Auto shopping site Cars.com put up for sale It is being sold by a group of newspaper publish...
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Report: Auto shopping site Cars.com put up for sale Report: Auto shopping site Cars.com put up for sale It is being sold by a group of newspaper publishers, including Gannett, owner of USA TODAY Cars.com has been put up for sale, according to a report(Photo: Cars.com) Story HighlightsCars.com has been put for sale, the Wall Street Journal reportsIt is being sold by a group of newspaper publishersPricetag: $3 billionSHARE59CONNECT21TWEETCOMMENTEMAILMORE The auto shopping and research site Cars.com has been put on the sales block with a pricetag of $3 billion, according to a report. A group of newspaper publishers that jointly own the site, operating under the banner Classified Ventures, hope to cash in on high valuations for e-commerce sites, according to the report in theWall Street Journal, which is sourced to "people familiar with the plans." An investment bank, Moelis, has been retained as an adviser. Cars.com is a leading site for buying or research cars. Its editorial crew partners with USA TODAY and PBS' MotorWeek on occasional group evaluations of new cars.

Classified Ventures is co-owned by Gannett, which also owns USA TODAY; Dallas Morning News publisher A.H.Belo; former Washington Post owner Graham Holdings; and Kansas City Star owner McClatchy. http://www.usatoday.com/story/money/cars/2014/03/09/carscom-usa-today-belo-mcclatchy/6234681/

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