Graham Holdings Agrees to Sell Its Investment in Classified Ventures to
WASHINGTON -- August 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
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.
Graham Holdings Company
Rima Calderon, 202-334-6617
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