NY Times sells stake in jobs website for $100 mn

The New York Times Co. said Tuesday it would sell its stake in the jobs-listing website Indeed.com
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.


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Citation: NY Times sells stake in jobs website for $100 mn (2012, September 25) retrieved 26 February 2020 from https://phys.org/news/2012-09-ny-stake-jobs-website-mn.html
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