Gannett Acquires Majority Stake In CareerBuilder
September 3, 2008 at 9:52 AM (PT)
TRIBUNE COMPANY has sold an additional 10% stake in CAREERBUILDER to GANNETT for $135 million. The acquisition gives Gannett a 50.8% controlling interest in CAREERBUILDER, the country's largest online job site.
"CAREERBUILDER is a terrific company, with great growth potential that just keeps delivering more for GANNETT and our partners," GANNETT Chair./Pres./CEO CRAIG DUBOW said. "We were delighted when the opportunity arose to acquire more of the company while maintaining a good, solid relationship with our partners."
"This transaction offers us an excellent opportunity to monetize some of the value CAREERBUILDER has built over the years, while enabling us to maintain a significant stake in a great online property, said TRIBUNE Chair./CEO SAM ZELL. TRIBUNE still owns 30.8% of CAREERBUILDER.