Gannett agrees to buy rest of Cars.com - Bloomberg

Mon Aug 4, 2014 5:54pm EDT

Aug 4 (Reuters) - Gannett Co Inc one of the newspaper owners of Cars.com, has agreed to buy out the part of the auto-sales website that it doesn't already own for $1.8 billion, Bloomberg News reported on Monday.

Gannett, the parent company of newspaper USA Today, is one of the five newspaper publishers that back Classified Ventures, the entity that owns Cars.com. Cars.com helps people buy and sell cars on the Internet.

Reuters reported in May that Gannett was exploring a bid for the entire company..

A representative for Gannett did not immediately respond to a request for comment. (Reporting by Liana B. Baker; Editing by Jonathan Oatis)

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