Classified Ventures, the 15-year-old partnership between Gannett and four other media companies, is considering selling its Apartments.com unit. An affiliate, Cars.com, isn't part of the plan, according to the Chicago Tribune, which reported the plan yesterday.
The rental site was launched in May 1998 by the nascent Classified Ventures, with Cars.com going live the following month. The sites, designed as a digital alternative to newspaper classified ads, have generated significant revenue for its owners, the Tribune says. The paper didn't say why the partners were considering a sale of the apartments site.
Gannett owns 23.6% of Classified Ventures, which is based in Chicago. The other partners are Tribune Co., A. H. Belo, McClatchy Co. and the Washington Post Co.
The rental site was launched in May 1998 by the nascent Classified Ventures, with Cars.com going live the following month. The sites, designed as a digital alternative to newspaper classified ads, have generated significant revenue for its owners, the Tribune says. The paper didn't say why the partners were considering a sale of the apartments site.
Gannett owns 23.6% of Classified Ventures, which is based in Chicago. The other partners are Tribune Co., A. H. Belo, McClatchy Co. and the Washington Post Co.
How will this effect Gannett and employees working with Gannett and apts.com?
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