NEW ORLEANS -- Billionaire Tom Benson has purchased Cadillac of New Orleans a week after selling his majority stake in the local Fox affiliate WVUE.
The price of the deal, which was announced Tuesday, was not disclosed.
Benson, who also owns the New Orleans Saints and New Orleans Pelicans, has a relationship with General Motors dating back to the 1950s, when he first became a GM dealer.
In making the deal, Benson is adding Cadillac to his roster of car dealerships, which includes Best Chevrolet in Kenner and Mercedes-Benz of New Orleans.
Cadillac of New Orleans is based in Metairie.