Gannett Co Inc, the publisher of USA Today, said it would purchase the 73 percent stake it does not already own in automotive website Cars.com for about $1.8 billion in cash. Gannett also said it would split into two publicly traded companies. One would focus on broadcasting and digital businesses, and the other on its publishing business, the company said.
Gannett Co., Inc., is an international media and marketing solutions company, delivering content and services across an integrated, multiplatform portfolio. Shares of GCI traded higher by 4.38% or $1.44/share to $34.32. In the past year, the shares have traded as low as $23.75 and as high as $34.44. On average, 1949250 shares of GCI exchange hands on a given day and today's volume is recorded at 4005306.
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