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CareerBuilder Loses; Monster Gets First Major Newspaper Deal

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The ripple effects from McClatchy’s acquisition of Knight Ridder and its sale of a dozen former KR newspapers and their companion web sites continue with the announcement that Philadelphia Media Holdings (operator of is dropping for help-wanted rival Such a move likely wouldn’t have been possible when was owned by the same company that had a one-third interest in CareerBuilder, described in the Philadelphia Inquirer today as “fast-growing but money-losing CareerBuilder.” McClatchy is in talks with fellow owners Tribune and Gannett about the third it acquired as part of the KR deal.
The switch to a co-branded site, described in the announcement as “central to the alliance,” takes place August 14. Brian Tierney, chairman and CEO of Philadelphia Media Holdings: “We chose to partner with because we wanted to work with the industry’s premier online job site. We’re comfortable breaking new ground and we believe partnering with puts us on the cutting edge of the next wave in online job searching.” In exchange, Monster gets its first major newspaper partnership. Andrew McKelvey, chairman and CEO, Monster Worldwide, calls it “a prime example of our continued commitment to grow Monster through a variety of strategic distribution points and partnerships. Release. (via Romenesko)
Classified Intelligence Report (E-mail alert): Five years ago Monster aggressively courted newspapers to upsell print ads onto its recruitment site, with bundles of job postings at a wholesale rate, which they would then resell to advertisers. Besides requiring newspapers to front the money, Monster refused to guarantee it wouldn’t later turn around and solicit the employer directly. Monster’s efforts were rebuffed by the industry. Only the Honolulu Star Bulletin joined with Monster in an alliance that continues to this day.
Philadelphia Inquirer; Sold By McClatchy To Local Investors
Earnings: Tribune Interactive Revenues Up 27 Percent For 2Q06; CareerBuilder UP 42 Percent
CareerBuilder’s Controlling Stake Game; Multiple Suitors