Here’s an investment that’s paid off well for the publishing company: In 2005 The Times joined Union Square Ventures and Allen & Co to collectively spend $5M for a minority stake in Indeed, which aggregates Web job listings. Since then the site has taken off, surpassing Monster.com in hits among job seekers. Last year the Times sold part of its interest for $5.9M. The new deal will deliver the company’s stake to Japan’s Recruit Co, which specializes in classified ads. The Times expects to record its gain in Q4, it says in an SEC filing. Its stock is up 2% in early trading.
New York Times To Collect $100M From Sale Of Stake In Indeed.com Job Listing Site
What's Hot on Deadline
'Captain America: Civil War' Blasts Off With $200.2M In First Overseas Frame; 'Jungle Book' Still A Beast - Intl Box Office Update
'Jungle Book' King Again, Reigns On Newcomer Parade: 'Keanu', 'Mother's Day' & 'Ratchet & Clank' - Sunday Update
Obama's Final White House Correspondents' Dinner Kicks Off With Will Smith, Priyanka Chopra, Bryan Cranston, WME & UTA Brass
Latest Business News
- Sony Second Studio To Reach Settlement In Animation Anti-Poaching Suit
- White House Correspondents Dinner: The Five Best Moments
- Larry Wilmore Savages Media, Ignites Controversy During White House Correspondents Dinner Skewering
- Labor Department: Art Directors Guild Exec Director Is “Officer” & Must Stand For Election
- How A DreamWorks-Illumination Combo Beats Disney At The B.O.
- NFL Draft Day 1 Viewership Down From 2015; ‘Big Bang Theory’ Wins Demo