Here is some interesting news for those familiar with automotive related sites (like this one). According to reports, Kelley Blue Book is apparently up for sale. The Financial Times report cited by a News York Times blog yesterday, said that two unidentified bankers claim to have an inside scoop on the potential sale.
One anonymous banker says that JPMorgan as hired to manage the sale and that Kelley Blue Book is valued at between $500 million and $1 billion.
While Kelley Blue Book was first published in 1926, founder Les Kelley had been producing a list of automobile values since 1918. The Kelley family sold the business to Charlie Cook in 1960s but was managed by a Kelley family member through 2000. Paul Johnson was eventually named president.
– By: Omar Rana
Source: Automotive News (Subscription Required)