Magazine article Editor & Publisher

Can Cerberus Defeat Monster?

Magazine article Editor & Publisher

Can Cerberus Defeat Monster?

Article excerpt

CareerBuilder: Three's company

With the aim of trouncing Web sites such as Monster.com and HotJobs, a triumvirate of America's largest newspaper chains now commands CareerBuilder, the Chicago-based recruitment site. Gannett Co. Inc. last week bought a third of CareerBuilder, joining co-owners Knight Ridder and Tribune Co. UBS Warburg of New York said Gannett paid $98.3 million for the equity stake.

Gannett greatly expands CareerBuilder's reach into small and midsize markets, said Gordon Borrell, CEO and president of Borrell Associates Inc. in Portsmouth, Va. Knight Ridder and Tribune affiliates are in larger markets with larger circulations. "Gannett brings the sure muscle of the blue-collar cities plus the value of 22 TV stations that can join in a CareerBuilder branding campaign," Borrell said. "TV has done tremendous things for Monster in terms of branding and driving rEsumEs."

CareerBuilder will power the jobs site on USAToday.com, while Gannett's more than 90 newspapers, TV stations, and other Web sites will become CareerBuilder affiliates. "Gannett will now be able to help advertisers reach potential employees beyond their local communities," Borrell said. Gannett "desperately needed to be in a national jobs network. …

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