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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

Shane McGlaun | Aug 5, 2014 at 11:00 am CDT (0 mins, 41 secs time to read)

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.

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

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.

Last updated: Apr 7, 2020 at 11:47 am CDT

Shane McGlaun

ABOUT THE AUTHOR - Shane McGlaun

Shane is a long time technology writer who has been writing full time for over a decade. Shane will cover all sorts of news for TweakTown including tech and other topics. When not writing about all things geeky, he can be found at the track teaching noobs how to race cars.

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