Classified Ventures
 | |
| Company type | Joint venture |
|---|---|
| Industry | Advertising |
| Defunct | October 1, 2014 |
| Fate | Acquired by Gannett Company |
| Headquarters | |
Classified Ventures, LLC was a Chicago-based media company. The company, established to capitalize on the revenue growth in the online classified advertising categories of automotive and rentals, was a joint venture among five major newspaper publishers: A. H. Belo, Gannett Company, The McClatchy Company, Tribune Company, and Graham Holdings Company[1] It was the owner of Apartments.com and Cars.com.
In April 2014, Apartments.com and its associated sites were sold to CoStar Group for $585 million.[2][3] On August 5, 2014, Gannett announced that it would buy out the other owners' stakes in Classified Ventures for $1.8 billion.[4][5] The acquisition was closed on October 1, 2014.[6]
Tegna, Inc., the successor to Gannett's broadcasting and digital properties, spun off Cars.com in May 2017.[7][8]
References
- ^ "Industry takes slow steps toward digital transactions". San Francisco Chronicle. July 31, 2005.
- ^ "CoStar Group buys Apartments.com for $585 million". Washington Post. Retrieved 8 May 2017.
- ^ Marek, Lynne (25 March 2014). "The end is near for Classified Ventures". Crain's Chicago Business. Retrieved 1 February 2017.
- ^ "Media Giant Gannett to Spin Off USA Today and Print Business". 5 August 2014. Retrieved 5 August 2014.
- ^ "Gannett Reorganizing, Buying Cars.com". NetNewsCheck. 5 August 2014. Archived from the original on 6 October 2014. Retrieved 5 August 2014.
- ^ "Gannett Completes Cars.com Acquisition". 1 October 2014. Retrieved 2 October 2014.
- ^ "Cars.com Spins Off From Parent TEGNA, Goes Through IPO". Search Marketing Daily. MediaPost Publications. Retrieved 5 May 2017.
- ^ "McLean-based Tegna spins off Cars.com". WTOP. Retrieved 5 May 2017.
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