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A. H. Belo Announces Agreement to Sell Its Investment in Classified Ventures; Remains Cars.com Reseller


Tuesday, 5 Aug 2014 06:30am EDT 

A. H. Belo Corp:Says along with its partners in Classified Ventures, LLC, enters into a definitive agreement to sell its units in Classified Ventures (CV) to Gannett Co., Inc. for a price that values CV at $2.5 bln.Transaction is expected to close before the end of 2014.A. H. Belo will enter into a new, five-year affiliate agreement with CV that will allow The Dallas Morning News to continue to resell Cars.com products and services exclusively in its local market.Affiliate agreement increases the wholesale rate that A. H. Belo will pay to CV for selling Cars.com products.Moelis & Company LLC acted as exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP acted as exclusive legal advisor to A. H. Belo Corporation, its selling partners and CV. 

Company Quote

11.52
0.1 +0.88%
24 Oct 2014