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KR-McClatchy: CareerBuilder.com Stake At Risk

By Staci D. Kramer - Mon 13 Mar 2006 06:04 AM PST

Knight Ridder’s one-third share of CareerBuilder.com may not wind up with McClatchy; partners Gannett and Tribune have first refusal on a sale. During q-and-a with analysts, McClatchy chairman and CEO Gary Pruitt said the company hopes to retain KR’s stake in the classifieds site: “We think CareerBuilder is a valuable asset with a good future. Tribune and Gannett are both good partners of us. ...  We believe the Knight Ridder markets together with the McClatchy markets are a blockbuster addition to CareerBuilder. It makes CareerBuilder much stronger, and ... it would be a great loss to CareerBuilder if they were not part of it.”

He added that even though he anticipates being part of CareerBuilder, if they do buy McClatchy/KR out “it will be a highly valuable asset and we’ll get hundreds of millions of dollars. Frankly, we’d prefer to stick with it.”

Posted in: Advertising, Companies, Gannett, McClatchy, Tribune, Media, Newspapers



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