Gannett, McClatchy and Tribune Reach Ownership Agreement on CareerBuilder, ShopLocal.com and Topix.net.

0 Comments | M2 Presswire, August, 2006

M2 PRESSWIRE-2 August 2006-Tribune Company: Gannett, McClatchy and Tribune Reach Ownership Agreement on CareerBuilder, ShopLocal.com and Topix.net(C)1994-2006 M2 COMMUNICATIONS LTD RDATE:01082006 CHICAGO - Gannett Co., Inc. (NYSE: GCI), The McClatchy Company (NYSE: MNI), and Tribune Company (NYSE: TRB), today announced an agreement concerning their ownership stakes in CareerBuilder.com, the nation's largest online classified recruitment site, and two other online businesses, ShopLocal.com and Topix.net.

Under the agreement, Gannett and Tribune will increase each of their equity stakes in CareerBuilder and ShopLocal.com to 42.5, and in Topix.net to 31.9. McClatchy will receive a total of approximately $310 million in the transaction and will retain a 15...

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