While McClatchy Co. CEO Gary Pruitt told an audience at a newspaper industry conference the publisher has ruled out going private or acquiring another peer, McClatchy hasn't ruled out selling its remaining stake in job search Web site CareerBuilder. McClatchy, one of the nation’s largest publishers thanks to last year's purchase of Knight Ridder, co-owns the site along with Tribune Co. and Gannett Co. Considering the shrinking advertising revenues of the newspaper business, a sale of CareerBuilder seems a little shortsighted.
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However, it wouldn't be the first time McClatchy has monetized CareerBuilder. In August, McClatchy cut its stake to 15% from 33% for $310 million from its JV partners. The Reuters story didn't suggest any possible buyers for McClatchy's remaining stake in CareerBuilder, but if Tribune and Gannett don't acquire the stake, then the usual Internet suspects — Google Inc. and Microsoft Corp. — could be expected to come calling. —Matthew Wurtzel
See story from Reuters
See Aug. 2, 2006, story from TheDeal.com
See McClatchy Dealwatch
