Gannett Buys 1/3 Of CareerBuilder

Posted Wednesday, October 2, 2002 12:00 am

By: Updated at 12 noon EST, Oct. 3

Gannett Co. Inc. announced Wednesday that it has acquired a one-third interest in CareerBuilder, the online employment site owned by Knight Ridder and Tribune Co. UBS Warburg estimated that Gannett paid $98.3 million for the equity interest.

CareerBuilder will power the jobs channel on USAToday.com, while more than 90 Gannett newspapers will become CareerBuilder affiliates.

The addition of Gannett is a boost to CareerBuilder, which recently lost Dallas-based Belo, which ended its relationship with the Chicago-based jobs site. Gannett's Web sites will bring CareerBuilder's exposure to nearly 26 million unique visitors, according to Nielsen/NetRatings data.

In print, CareerBuilder will now deliver local help-wanted ads to a combined Sunday circulation of 15 million at over 130 newspapers. Participating newspapers have rebranded their print employment classifieds with the CareerBuilder name.

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Gannett Buys 1/3 Of CareerBuilder

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