The cars.com online marketplace is up for sale. A group of newspaper publishers hopes to raise as much as $3 billion, cashing in on booming values for e-commerce sites, the Wall Street Journal says, quoting people” familiar with the plans”.
The Classified Ventures publishers consortium are being advised on the sale by Moelis & Co. Discussions have already begun with potential bidders, expected to include private-equity firms and strategic investors. One publishers could raise its stake or buy out the others, said the WSJ.
Read the rest at GOING, GOING! Newspapers want to sell Cars.com for $3 billion | The Drum.
