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.
By DAVID LIEBERMAN, Financial Editor | Tuesday September 25, 2012 @ 10:06am EDTTags: The New York Times Company
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This article was printed from http://www.deadline.com/2012/09/newyork-times-sell-indeed-com/
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