Business/Newspapers

Paper Consortium To Sell Cars.com For $3B

NetNewsCheck,

A group of newspaper publishers, including Gannett, McClatchy, Tribune and others, has put the Cars.com online marketplace up for sale for as much as $3 billion, according to a report in The Wall Street Journal. Moelis & Co., which is advising the Classified Ventures publishers consortium on the sale, already has begun discussions with potential bidders, which are expected to include private-equity firms and strategic investors. WSJ subscribers can read the full story here. Last week, Classified Ventures announced that it sold Apartments.com to CoStar Group.

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