Paper Consortium to Sell Cars.com for $3B

By: NetNewsCheck

A group of newspaper publishers, including Gannett, McClatchy, Tribune and others, has put the Cars.com online marketplace up for sale for as much as $3 billion, according to a report in The Wall Street Journal.

Moelis & Co., which is advising the Classified Ventures publishers consortium on the sale, already has begun discussions with potential bidders, which are expected to include private-equity firms and strategic investors.