WSJ: Newspaper group puts on block for $3B

Newspaper consortium Classified Ventures, which includes Gannett (GCI), McClatchy (MNI) and Tribune (TRBAA), is looking to sell 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 for $585M.

The sale of would effectively mark the end of the consortium, whose other owners are A.H. Belo (AHC) and Graham Holdings (GHC).

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