Gannett deal: Cars.com valued at $2.5B

05 Aug 2014

Gannett Co., which owned 27 percent of Classified Ventures, is buying out the other media group members of that one-time great classifieds consortium to take full control of Cars.com in a deal that valued the auto site at $2.5 billion.

By contrast, AutoTrader Group was valued at $7 billion in January when Cox Enterprises bought out the 25 percent stake owned by Providence Equity Partners.

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Sharon Hill

Sharon Hill has been a senior writer / analyst with the AIM Group since 2004, except for a two-year time-out to serve as sales and marketing manager for Suburban Newspapers of America. She worked at newspapers in California, the Carolinas and Indiana as a classified advertising sales supervisor and manager, and in newspaper circulation in Alaska. At the SNA, she was responsible for bringing in new members; lining up exhibitors, and helping develop programs for the classified conference and the classified alliance. She is also co-author of “Implementing and Managing Telework: A Guide for those who make it Happen” (Praeger Press) and a prolific blogger and social media user. She is based in Phoenix.