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Tribune, Knight Ridder buy HeadHunter.Net

Published on .

Reston, Va.--Newspaper publishers Tribune Co. and Knight Ridder Inc. said Friday that will team up to buy the online résumé bank HeadHunter.Net Inc. for about $200 million and merge it with another online recruitment company. Atlanta-based HeadHunter will be combined with CareerBuilder Inc., which both publishers back. Tribune and Knight Ridder will each contribute about a half of the purchase price of $9.25 per HeadHunter share, which represents a 33% premium above HeadHunter's closing share price of $6.95 on Thursday. In September, Tribune and Knight Ridder will start to brand their newspaper employment recruitment sections as "CareerBuilder help-wanted." Newspapers including the Chicago Tribune, Los Angeles Times, Newsday and The Philadelphia Inquirer will introduce the CareerBuilder print sections in their Sunday editions, starting September 30.
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