August 5, 2014

Split-off Tribune division expects re-up with Cars.com

Tribune Publishing Co., which debuted this morning on the New York Stock Exchange, said before the market opened that it expects to extend its affiliate agreement with Cars.com, which brings in online classified advertising revenue.

Tribune Publishing, which owns the Hartford Courant and other papers, recently split off from parent company Tribune Media Co., which will focus on broadcast and digital assets.

Cars.com parent Classified Ventures LLC is in the process of being sold to Gannett. The deal is expected to close by year's end.

Tribune Publishing's five-year deal with Classified Ventures would extend its exclusive rights to sell Cars.com products in Hartford, Los Angeles, Chicago and five other markets.

Tribune Publishing shares were trading at $21.65 Tuesday at 10 a.m.

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