Newspaper Giants Shuffle Stakes in CareerBuilder, ShopLocal and Topix
McClatchy has sold some of its holdings in online businesses CareerBuilder, ShopLocal and Topix to newspaper rivals Tribune and Gannett
McClatchy has sold some of its holdings in online businesses CareerBuilder, ShopLocal and Topix to newspaper rivals Tribune and Gannett
McClatchy has sold some of its holdings in online businesses CareerBuilder, ShopLocal and Topix to newspaper rivals Tribune and Gannett. Each of those companies increased their stakes in the companies, while McClatchy received a $310 million payout and will retain smaller investments. The deal values CareerBuilder at $1.55 billion, ShopLocal.com at $85 million and Topix.net at $72 million.
Twenty of the papers McClatchy acquired recently from Knight Ridder were already partnered with the Web firms. (press release)
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