Gannett to take full ownership of Cars.com for $1.8 bln

Tue Aug 5, 2014 6:50am EDT

Aug 5 (Reuters) - Gannett Co Inc, the publisher of USA Today, said it would buy the 73 percent stake it does not already own in automotive website Cars.com for about $1.8 billion in cash.

Gannett also said it would split into two publicly traded companies. One would focus on broadcasting and digital businesses, and the other on its publishing business, the company said. (Reporting by Ankit Ajmera in Bangalore; Editing by Saumyadeb Chakrabarty)