Gannett Takes Controlling Interest in CareerBuilder

Zachary Rodgers | September 3, 2008 | 0 comments

Gannett's now the majority owner of CareerBuilder, having picked up a 10 percent stake in the recruiting site from Tribune for $135 million. The purchase gives it a 50.8 percent controlling share of the firm.

The transaction is reminiscent of Gannett's acquisition in July of its rivals' ownership shares in ShopLocal, the online shopping circular provider previously owned by a triumvirate of newspaper publishers. In that purchase, Gannett bought all outstanding interest in the firm from McClatchy and Tribune.

Tribune, which previously held a share of CareerBuilder equal to that of Gannett's, now possesses 30.8 percent of CareerBuilder. McClatchy meanwhile owns 14.4 percent, and Microsoft has 4 percent.

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ABOUT THE AUTHOR

Managing Editor Zach Rodgers oversees ClickZ's award-winning coverage of news and trends in digital marketing. As a journalist he has reported on the rise of web companies, data markets, ad technologies, and government Internet policy, among other subjects. His stories have appeared in Mashable, Search Engine Watch and Kauffman publications, among others, and he has been cited by government and advocacy groups such as the Center for Digital Democracy, U.S. PIRG, the U.K. Independent. He previously held editorial roles at TurboAds, WirelessAdWatch, Internet Advertising Report, ChannelSeven.com, and Datamation. He can be found on Twitter at @zachrodgers.