AOL Strikes Deal With Careerbuilder.com

Communications Today, August 5, 2003

America Online on Monday inked a four-year deal with Careerbuilder.com valued at up to $115 million. With the agreement, AOL, the Internet unit of parent company AOL Time Warner [NYSE: AOL], essentially replaced Monster.com with Careerbuilder.com as the provider of its online job services content. The deal with Careerbuilder.com, which is owned by newspaper publishing giants Knight Ridder Inc. [NYSE: KRI], Tribune Co. [NYSE: TRB] and Gannett Co. [NYSE: GCI], takes effect in mid-December.

This past month, AOL Time Warner reported a second-quarter profit of $1.1 billion, or 23 cents a share, compared to a profit of $396 million or 9 cents a share, a year ago. Revenue for the quarter rose 6 percent to $10.82 billion. AOL's subscriber numbers plunged 846,000 for the period, far more than the 500,000 subscriber subtractions that some analysts forecasted.

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