Gannett Co. (GCI), owner of USA Today, agrees to pay $1.8 billion for the 73% of Cars.com It Doesn’t Own

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According to Bloomberg.com, Gannett Co. (GCI), the owner of USA Today, agreed to pay $1.8 billion for the 73% of  Cars.com that it doesn’t already own already

Gannett, which already owns about 27%of Cars.com, values the whole business at about $2.5 billion, the person said, asking not to be identified discussing private information. The deal could be announced as soon as tomorrow, the person said.

Jeremy Gaines, a spokesman for Gannett, declined to comment. A representative for Classified Ventures, the entity that owns Cars.com, couldn’t immediately be reached to comment.

 

About Michael Berkens

Michael Berkens, Esq. is the founder and Editor-in-Chief of TheDomains.com. Michael is also the co-founder of Worldwide Media Inc. which sold around 70K domain to Godaddy.com in December 2015 and now owns around 8K domain names . Michael was also one of the 5 Judges selected for the the Verisign 30th Anniversary .Com contest.

Comments

  1. Joseph Peterson says

    Some domains — the CARS.com of this world — will likely be inseparably attached to a functioning online business until doomsday.

    That $1.8 billion is just more glue.

  2. Louise says

    It finally shows the indisputable truth of a business built on a category killer generic dot com.

    • Jeffrey A Schneider says

      Yes this is a prime example of (.Com URL Centric Gorilla Marketing) . A pure play that cannot be denied access to the Global Marketing arena, Traffic Grid. The beauty of a Legacy .Com extensions univeral appeal. Great example ! Priceless

      Gratefully, Jeff Schneider (Contact Group) (Metal Tiger) (Domain Master)