Gannett Takes Controlling Interest in CareerBuilder
Gannett's now the majority owner of CareerBuilder, having picked up a 10 percent stake in the recruiting site from Tribune for $135 million
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.
