agent Entrepreneur logo
MenuMENU
SearchSEARCH

Gannett Co. to Acquire Cars.com

MCLEAN, Va. — Gannett Co. has signed a definitive agreement to acquire full ownership of Cars.com for $1.8 million in cash. Under this agreement, Gannett will acquire the remaining 73% interest in the company from Classified Ventures LLC, which owns Cars.com. The publishing company also announced plans to create two publicly traded companies: one exclusively ... Read More »

August 6, 2014
2 min to read


MCLEAN, Va. — Gannett Co. has signed a definitive agreement to acquire full ownership of Cars.com for $1.8 million in cash. Under this agreement, Gannett will acquire the remaining 73% interest in the company from Classified Ventures LLC, which owns Cars.com.

The publishing company also announced plans to create two publicly traded companies: one exclusively focused on its broadcasting and digital businesses, and the other on its publishing business. The planned separation of the publishing business will be implemented through a tax-free distribution of Gannett’s Publishing assets to shareholders. The transaction will create two focused companies with increased opportunities to grow organically across all businesses as well as pursue strategic acquisitions, officials said.

Ad Loading...

“The bold actions we are announcing today are significant next steps in our ongoing initiatives to increase shareholder value by building scale, increasing cash flow, sharpening management focus, and strengthening all of our businesses to compete effectively in today’s increasingly digital landscape,” said Gracia Martore, president and CEO. “Cars.com doubles our growing digital business, while our recent acquisitions of Belo and London Broadcasting doubled our broadcasting portfolio. These acquisitions, combined with our successful initiatives over the past two and a half years to strengthen our publishing business, make this the right time for a separation into two market-leading companies.”

Cars.com is the No. 2 auto-related site, officials claimed, with approximately 30 million visits per month. Annual visits, according to officials, have grown at a rate of 17% for the last several years. Since its inception, Cars.com has grown consistently, and today the site displays approximately 4.3 million new and used cars from nearly 20,000 dealers.

Acquiring all of Cars.com further accelerates Gannett’s digital transformation and is consistent with the company’s focus on local media and marketing services. Gannett will enter into new five-year affiliate agreements with the existing owner-affiliates of Cars.com upon the closing date. The company expects the transaction to be accretive to free cash flow by approximately $0.43 per share and neutral to non-GAAP earnings per share in 2015, growing thereafter.

Gannett will finance the acquisition through cash on hand, the issuance of approximately $650-$675 million in new senior notes and borrowings under the company’s revolving credit agreement.

More Industry

Six men standing for photo outside of car dealership
Industryby Lauren LawrenceAugust 13, 2026

South Carolina Auto Group Downsizes

Florida-based group Holler-Classic has acquired four rooftops, its first in South Carolina, from Dick Smith Automotive Group.

Read More →
newspaper advertisement circled in pink, Turn Listings into Leads, F&I and Showroom
Industryby Lauren LawrenceAugust 5, 2026

Structure Leads to Optimized Auto Listings

As the average car-buying journey has shifted to a blend of digital and retail, a dealership’s vehicle listings must be optimized to answer shoppers’ questions clearly and accurately.

Read More →
Photo of woman counting cash with a calculator sitting on a desk in front of her
Industryby Hannah MitchellJuly 30, 2026

Consumers Mixed on Economy, Finances

A July survey shows spotty sentiment of current and future conditions, in addition to demographic differences as overall opinion of present circumstances kept sliding.

Read More →
Ad Loading...
blue map of Europe with outline of an electric vehicle powertrain on top, Closing the Powertrain Gap, Agent Entrepreneur
Industryby Lauren LawrenceJuly 30, 2026

EVs Closing the European Gap

Electrified powertrains led June new-vehicle sales in Europe, reaching 26% of the market.

Read More →
a line of people sitting down with paperwork in their hands
Industryby Lauren LawrenceJuly 27, 2026

Early Intervention Saves Retention

Sales and service departments have the highest annual dealership turnover rates, according to a new industry report, costing money and time that could be better spent elsewhere.

Read More →
Photo of MINI nameplate on the hood of a white MINI Cooper
Industryby Hannah MitchellJuly 23, 2026

Autos More Appealing

Consumers gave new cars better scores again this year for design, performance and more as mass-market brands kept gaining on premium lineups, JD Power found in an annual poll.

Read More →
Ad Loading...
red car parked in front of a sunset, The Used Market Divide, Agent Entrepreneur
Industryby Lauren LawrenceJuly 23, 2026

Used EVs Defy Overall Market

While the used-car market saw three months of price declines or stagnation, the used EV segment did the opposite – rising for three straight months.

Read More →
silver car in background with hand in front holding out a set of keys, Trade-In Trouble, F&I and Showroom
Industryby Lauren LawrenceJuly 20, 2026

Trade-Ins in Negative Equity Reach New Heights

As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.

Read More →
Photo of a retriever dog looking out of an open SUV window with a yellow Peugeot headrest on the top of the window below it
Industryby Hannah MitchellJuly 16, 2026

Gone to the Dogs

A Stellantis brand decided to have some fun with one of its SUVs’ design to address growing emphasis on family pets.

Read More →
Ad Loading...
Aerial shot of a car dealership
Industryby Hannah MitchellJuly 13, 2026

OEM Poll Sees Industry Evolution

Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.

Read More →
Ad Loading...