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Stock Market & Financial Investment News

News Breaks
August 4, 2014
18:14 EDTGCI, MNI, AHCGannett said to agree to buy rest of Cars.com for $1.8B, Bloomberg says
Gannett (GCI) agreed to acquire the remaining 73% stake in Cars.com from Classified Ventures, which is backed by Gannett, McClatchy (MNI) A.H. Belo (AHC), and Tribune Co., for $1.8B, reports Bloomberg, citing a person familiar with the matter. The agreement could be announced as early as tomorrow, Bloomberg added. Reference Link
News For GCI;MNI;AHC From The Last 14 Days
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October 1, 2014
09:50 EDTMNI, AHC, GCITribune Media closes sale of 27.8% stake in CV to Gannett
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09:47 EDTAHC, GCIA.H. Belo enters new five-year affiliate agreement with CV
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09:22 EDTMNI, GCI, AHCGraham Holdings closes sale of 16.5% Stake In Cars.com to Gannett
Graham Holdings (GHC) announced that the company and the remaining partners in Classified Ventures have completed the sale of their entire stakes in CV to Gannett (GCI) for a price that values CV at $2.5B. The agreement to sell was announced on August 5. CV was a joint venture among Graham Holdings, A. H. Belo (AHC), Gannett, McClatchy (MNI) and Tribune (TRBAA) Media. Graham Holdings owned 16.5% of CV, whose primary asset is Cars.com, the online car shopping website. Gross proceeds to the selling partners are $1.8B. Total proceeds to Graham Holdings, net of transaction costs, are $408.5M, of which $16.5M will be held in escrow until October 1, 2015. The company will report a gain on the sale of its interest in CV Q4.
09:22 EDTGCI, MNIMcClatchy closes sale of 25.6% stake in Cars.com to Gannett
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09:17 EDTGCIGannett completes acquisition of remaining 73% interest in Cars.com
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