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.
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.
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)