TORSTAR, GLOBE GO 50-50 ON WORKOPOLIS.com

By: Staff Reports

Online Recruitment Site Gets Valued At $70 Million


Toronto Star Newspapers Ltd. (TSNL) has paid $4.7 million to
Globe Interactive, operator of globeandmail.com, to become an
equal partner in the companies’ online recruitment effort,
Workopolis.com.

TSNL, a division of Torstar Corp., increased its interest from
40% to 50% in the Canadian Web site. The deal reflects a
valuation of Workopolis.com at $46.9 million.

Workopolis.com was
launched on nearly one year ago, and the site already reports
more than 40,000 job postings daily and five million job searches
per month. Workopolis.com aggregates job listings from both
The Globe and Mail and TSNL’s papers, including The
Toronto Star, The Record in Kitchener-Waterloo, and
The Hamilton Spectator.



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