If you're reading this page, chances are you already appreciate the value of a good car website. But if you needed any further evidence, just look at how much our compatriots at Cars.com are worth: according to Bloomberg, newspaper publishing giant Gannett is paying $1.8 billion to complete its acquisition of the car shopping site.
Along with USA Today and an array of local newspapers, Gannett already owns 27 percent of Cars.com, but is buying out remaining partners McClatchy, Tribune Media, AH Belo and Graham Holdings. While we have to admit that we don't quite get the math, the transaction reportedly ends up valuing the business at $2.5 billion.
The former partners will reportedly remain affiliated with the site as part of a five-year deal that will see them selling advertising for the site in their respective regions.
Along with USA Today and an array of local newspapers, Gannett already owns 27 percent of Cars.com, but is buying out remaining partners McClatchy, Tribune Media, AH Belo and Graham Holdings. While we have to admit that we don't quite get the math, the transaction reportedly ends up valuing the business at $2.5 billion.
The former partners will reportedly remain affiliated with the site as part of a five-year deal that will see them selling advertising for the site in their respective regions.
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