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Adevinta to buy eBay's classified ads business

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Norway's Adevinta plans to purchase eBay's classified ads business for $9.2 billion.

EBay Classifieds Group got its start 25 years ago. The Interactive Advertising Bureau reports classifieds made up only 3% of the $125 billion internet advertising market in 2019.

Adevinta was spun off by Schibsted, a Nordic digital media and e-commerce company that started publishing newspapers in the 19th century.

Read more from CNN Business.

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