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: China's Alibaba plans IPO for week of September 8

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

China's Alibaba plans IPO for week of September 8

20 hours ago

Chinese e-commerce giant Alibaba plans to hold its initial public offering on the US stock market the week of September 8, the Wall Street Journal reported Saturday, citing a person familiar with the matter.

Tablet sales slow as PCs find footing

21 hours ago

Tablets won't eclipse personal computers as fast as once thought, according to studies by market tracker International Data Corporation (IDC).

Chinese e-commerce rivals challenge Alibaba (Update)

Aug 29, 2014

China's biggest property developer, Wanda Group, and Internet giants Baidu and Tencent unveiled a new e-commerce venture Friday in a challenge to industry leader Alibaba Group ahead of its U.S. stock offering.

User comments : 0