NY Times sells stake in jobs website for $100 mn

Sep 25, 2012
The New York Times Co. said Tuesday it would sell its stake in the jobs-listing website Indeed.com, and record a gain of $100 million.

The New York Times Co. said Tuesday it would sell its stake in the jobs-listing website Indeed.com, and record a gain of $100 million.

The media group said in a regulatory filing that Indeed.com, will be acquired by Japan-based Recruit Co. Ltd, and that the deal includes all remaining shares held by the Times.

The Times Co. released no additional details of the transaction, or the amount of its stake.

Indeed.com, created in 2004, has about 80 million visitors per month. It has 500 employees and operates in 26 languages, with operations in the United States, France, Canada and Britain, among others.

This week, Times Co., as part of its move to focus on core operations, closed its deal to sell its information website About.com for $300 million to IAC, a headed by mogul Barry Diller.

Explore further: Amazon launches 3D printing store

add to favorites email to friend print save as pdf

Related Stories

Liberty Media gives up stake in Diller's IAC

Dec 02, 2010

(AP) -- Barry Diller and John Malone, two media moguls whose partnerships over the past 17 years have been rocky at times, are cutting more of their business ties as Malone's Liberty Media sheds its voting stake in Diller's ...

Facebook co-founder sells 450,000 shares

Aug 22, 2012

(AP) — Facebook co-founder Dustin Moskovitz shed 450,000 shares of Facebook in the past few days for proceeds of about $9 million — a tiny chunk of his total stake.

LinkedIn CEO, other insiders prepare to sell stock

Nov 15, 2011

LinkedIn Corp.'s employees and early backers plan to sell more than 6.7 million shares as they try to reap the gains from a rapid run-up in the online professional networking service's market value.

Recommended for you

Amazon launches 3D printing store

17 hours ago

Amazon announced Monday the launch of an online store for 3D printed items to allow consumers to customize and personalize items like earrings, pendants, dolls and other objects.

Samsung delays Tizen smartphone sales launch

22 hours ago

Samsung Electronics said Monday it would postpone the roll-out of its new smartphone based on Tizen, a home-grown operating system aimed at breaking away from Google's Android system.

Chinese portal Sohu reports $45 million loss

Jul 28, 2014

(AP)—Sohu.com Inc., operator of a popular Chinese Internet portal, said Monday it lost $45 million in the latest quarter while revenue rose 18 percent to $400 million.

User comments : 0