Newspaper Groups Reach A Deal On CareerBuilder, & ShopLocal

A deal between Gannett, McClatchy, and Tribune has been reached, on the fate of the jointly-owned online/classifieds businesses: Gannett and Tribune will increase each of their equity stakes in CareerBuilder and to 42.5%, and in online news aggregator and search site to 31.9%.
— McClatchy will receive about $310 million in the transaction and will retain a 15% stake in CareerBuilder and, and an 11.25% stake in
— Gannett and Tribune will each pay McClatchy approximately $142 million. They will each pay $13 million to increase their equity in and
— This means that the current valuations are: CareerBuilder $1.55 billion, $85 million and $72 million.
— Twenty of the newspapers McClatchy acquired from Knight Ridder were already affiliated with CareerBuilder, ShopLocal, and, and will continue to be so. McClatchy’s 12 existing newspapers will now join the recruitment website and the other newly acquired digital platforms.
McClatchy acquired its stakes in these online properties with this June’s purchase of Knight Ridder. Knight Ridder, Gannett and Tribune had previously been equal partners in CareerBuilder, and 25 percent owners each in
More in the release here.
CareerBuilder Loses; Monster Gets First Major Newspaper Deal Got About $50 Million
CareerBuilder’s Controlling Stake Game; Multiple Suitors

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