Deals
Tegna to Spin off Cars.com, Weigh Options for CareerBuilder
- CEO Gracia Martore to retire when split takes place next year
- Alex Vetter to lead Cars.com, Dave Lougee to be CEO of Tegna
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Tegna Inc., the broadcaster that spun off newspaper publisher Gannett Co. last year, will list auto-sales website Cars.com as a separate public company and is evaluating a sale of its CareerBuilder job-hunting unit.
Chief Executive Officer Gracia Martore will retire when the split takes effect, expected in the first half of 2017, McLean, Virginia-based Tegna said Wednesday in a statement. Alex Vetter, a longtime Cars.com executive, will lead the independent company as CEO. Dave Lougee, president of Tegna Media, will become CEO of the television operation that remains.