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WSJ: Newspaper group puts Cars.com on block for $3B

Mar. 10, 2014 3:48 AM ETGannett Co., Inc. (GCI) StockGHC, GCI, DALN, TRCO, TRBAB, MNIQQBy: Yigal Grayeff, SA News Editor
  • Newspaper consortium Classified Ventures, which includes Gannett (NYSE:GCI), McClatchy (NYSEMKT:MNI) and Tribune (TRBAA), is looking to sell Cars.com for $3B, the WSJ reports.
  • Gannett, whose holding in Classified is 27%, could be interested in increasing its stake in the auto-sales Web site.
  • Any deal would come amid rising valuations for e-commerce sites and after Classified Ventures last week said it was selling apartments.com for $585M.
  • The sale of Cars.com would effectively mark the end of the consortium, whose other owners are A.H. Belo (NYSE:AHC) and Graham Holdings (NYSE:GHC).

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