McClathcy Details Sales Numbers

By: NetNewsCheck

The McClatchy Company said today that it, along with the remaining partners in Classified Ventures LLC, have entered into a definitive agreement to sell their entire stake in CV to Gannett Co. for a price that values CV at $2.5 billion. The transaction is expected to close, McClatchy said, before the end of 2014, subject to normal regulatory reviews.

CV, whose primary asset is the online car shopping website, is a joint venture among McClatchy, Gannett, Tribune Media Company, Graham Holdings Company and A. H. Belo Corporation. McClatchy owns 25.6% of CV.

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