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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Car-share companies plan to combine

Washington Post The Spokesman-Review

WASHINGTON – Flexcar and Zipcar, two companies seeking to change American habits by renting cars by the hour, plan to merge in a deal that would reshape the nascent car-sharing industry.

After years of losses for both companies, Flexcar, based in Seattle and controlled by America Online founder Steve Case, said it will merge with the larger Zipcar, based near Boston, in hopes of achieving profitability within the year.

The two companies, the nation’s largest car-sharing firms, are owned by private investors. They did not disclose the merger’s financial terms.