Cox to buy back 25% stake in AutoTrader from Prov. Equity

COX ENTERPRISES INC. has purchased a 25 percent stake in AutoTrader Group from Providence Equity Partners, a stake the Wall Street Journal estimated at $1.8 billion. Cox will now own 98 percent of the business, with the rest held by current and former employees, according to a statement made Friday.
COX ENTERPRISES INC. has purchased a 25 percent stake in AutoTrader Group from Providence Equity Partners, a stake the Wall Street Journal estimated at $1.8 billion. Cox will now own 98 percent of the business, with the rest held by current and former employees, according to a statement made Friday.
NEW YORK – Cox Enterprises Inc., the media holding company, agreed to buy back a 25 percent stake in AutoTrader Group from Providence Equity Partners, restoring its full ownership of the e-commerce business. Providence, a private-equity firm, had acquired the stake in 2010 to help boost growth at AutoTrader, which runs the sites AutoTrader.com and…

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