WASHINGTON--(BUSINESS WIRE)--Aug. 5, 2014--
Graham Holdings Company (NYSE: GHC) said today that the Company and its
partners have entered into an agreement to sell their stake in
Classified Ventures (CV) to Gannett Co., Inc. for a price that values CV
at $2.5 billion. Gannett currently owns a 27% share of CV; Graham
Holdings owns a 16.5% share. The transaction is expected to close before
the end of 2014, subject to regulatory review.
CV, whose primary asset is www.cars.com,
is a joint venture among A.H. Belo Corp., Gannett, Graham Holdings,
McClatchy and Tribune Company.
About Graham Holdings Company (www.ghco.com)
Graham Holdings Company (NYSE: GHC) is a diversified education and media
company whose principal operations include educational services,
television broadcasting, cable systems and online, print and local TV
news. The Company owns Kaplan, a leading global provider of educational
services; Graham Media Group (WDIV–Detroit, KPRC–Houston, WKMG–Orlando,
KSAT–San Antonio, WJXT–Jacksonville); Cable ONE, serving small-city
subscribers in 19 midwestern, western and southern states; The Slate
Group (Slate, Slate V, The Root); and Foreign Policy. The Company also
owns Trove, a digital team focused on innovation and experimentation
with emerging technologies; SocialCode, a leading social marketing
solutions company; Celtic Healthcare; Forney Corporation; Joyce/Dayton
Corp; and Residential Healthcare Group.
Source: Graham Holdings Company
Graham Holdings Company
Rima Calderon, 202-334-6617
rima.calderon@ghco.com
