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: IBM buys small Denver startup AlchemyAPI to expand Watson

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

Car industry welcomes Google, Apple but battles loom

10 hours ago

It could be the battle of the titans. Auto giants at the Geneva Motor Show say they welcome the potential move of Silicon Valley players into their sector but experts warn of major disruptions.

Woman in Silicon Valley sex discrimination suit to testify

11 hours ago

The woman at the center of a sex discrimination lawsuit against one of Silicon Valley's most prestigious venture capital firms is set to take the stand in a case that has focused attention on the treatment of women in the ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.