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Gannett tipped to buy remainder of Cars.com for $1.8 billion

Gannett reportedly wants to buy all of Cars.com and will plunk down $1.8 billion to get it (NYSE:GCI)

| Business, Financial & Legal News | Posted: Aug 5, 2014 4:00 pm

Cars.com is a website where millions of people in the US go when they are looking for a new or used vehicle. A part of Cars.com is owned by the Gannett Company and it looks like Gannett now wants the entire pie. A person familiar with the deal says that Gannett is ready to plunk down $1.8 billion to buy all of Cars.com.

 

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The person claims that the deal could be announced as early as today. If the deal goes through for $1.8 billion, it would value Cars.com at $2.5 billion. Cars.com has been around for 16 years and is one of the biggest online markets for buyers and sellers of cars.

 

The website claims to have 11 million visitors monthly. No official comments have been offered from Cars.com or Gannett at this time.

NEWS SOURCES:Dealbook.nytimes.com

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