Tribune Media Co., TEGNA Inc. and Sacramento-based McClatchy are selling their majority holdings in CareerBuilder LLC, the online employment website, to an investor group affiliated with Apollo Global Management and the Ontario Teachers’ Pension Plan Board, The Sacramento Bee reports.
“For McClatchy, the result of the TEGNA-led CareerBuilder transaction will provide after-tax proceeds to further reduce debt and/or potentially use for reinvestment in the company.” McClatchy President and CEO Craig Forman said.
TEGNA is the broadcast and digital company whose Gannett print division became a separate company in 2015. Tribune Media Co. is the broadcast and digital company that spun off its print division (Tronc) in 2014.
McClatchy acquired its CareerBuilder share with the acquisition of Knight Ridder Inc. in 2006.
