Tegna, an American publicly traded broadcast, digital media and marketing services company, completed the spin-off of Cars.com, a digital marketplace and solutions provider for the automotive industry that connects car shoppers with sellers. Tegna shareholders received one share of Cars.com common stock for every three shares of TEGNA common stock held. “This is an exciting moment in Cars.com’s history. This caliber of leadership and expertise of our Board of Directors, and their singular focus on Cars.com, will help us drive transformational growth throughout our company and help ensure our sustainability as a leading brand in the marketplace for online car buyers and sellers," Alex Vetter, Cars.com CEO.