Comcast (NSDQ: CMCSA) is buying out multiplatform and online car site Vehix, for an undisclosed amount. Comcast’s ad sales unit Comcast Spotlight already had a minority stake in the service, and will now fully own it.
Comcast is buying the service from an investor group led by Utah-based Ken Garff Automotive Group, which controlled a reported 51 percent stake. It was started in 1996 by car dealer owner Garff Enterprises as AutoMallUSA.com, and after changing its name in 1999, then moved into broadband and on-demand platforms of Comcast Spotlight, plus TV spots on cable systems.
As to the rationale for the deal, pretty simple:
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