Newspapers Divvy Up CareerBuilder, Topix

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[ Business]

Gannett, Tribune, and McClatchy have reworked their ownership percentages of online classifieds site CareerBuilder, the Topix.net news aggregator, and the ShopLocal.com search engine.

Knight Ridder’s purchaser McClatchy picked up a cool $310 million as the trio of powerful newspaper publishers shuffled their shares in the three websites, according to a client email from Classified Intelligence.

Originally, Gannett, Tribune, and Knight Ridder each had equal ownership in CareerBuilder.com. Tribune and Gannett invoked terms of the original operating agreement when McClatchy signaled its intention to sell its shares in CareerBuilder as it was selling 12 Knight Ridder newspapers.

Gannett and Tribune now control 42.5 percent each of CareerBuilder and ShopLocal.com; McClatchy retained 15 percent. Gannett and Tribune each own 31.9 percent of Topix.net, while McClatchy has 11.25 percent.

McClatchy still owns 20 Knight Ridder newspapers, which already have affiliations with the three sites, the report said. The 12 papers owned by McClatchy will integrate the trio of websites as well.

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David Utter is a staff writer for WebProNews covering technology and business.

Newspapers Divvy Up CareerBuilder, Topix
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