Magazine article Editor & Publisher

Microsoft Acquires Equity Stake in CareerBuilder

Magazine article Editor & Publisher

Microsoft Acquires Equity Stake in CareerBuilder

Article excerpt

Microsoft has purchased a minority equity stake in CareerBuilder.com, the big online job site begun by newspaper publishers, the companies announced Wednesday.

The size of the stake was not disclosed in the joint announcement by Microsoft, and CareerBuilder.com's newspaper owners, Gannett Co. Inc., Tribune Co., and The McClatchy Co.

Microsoft is acquiring 4 percent of CareerBuilder, sources told the Chicagto Tribune's Phil Rosenthal. The price was not disclosed.

"This leaves Tribune and Gannett each with stakes of 40.8 percent and McClatchy with 14.4 percent of the Internet site," Rosenthal wrote today.

In a separate agreement, Microsoft-owned MSN and CareerBuilder said they have extended through 2013 their strategic alliance under which CareerBuilder is the exclusive content provider to the MSN Careers channel in the U.S. through 2013.

Under the new agreement, which both companies said was similar to its previous arrangement, financial payments will be based on the quality and quantity of traffic delivered. CareerBuilder will pay MSN up to $443 million over the course of the next seven years to be the exclusive jobs search engine on the Careers channel.

"MSN and CareerBuilder have also broadened their alliance to include key MSN international sites, facilitating an accelerated expansion overseas for CareerBuilder," the companies said.

Last year, CareerBuilder launched sites in Britain, Canada and India. …

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