NYT to sell Indeed.com for $100M gain
NY Times to sell interest in Indeed.com to Recruit; expects to book a $100 million gain in 4Q
NEW YORK (AP) -- The New York Times Co. says it is selling its interest in job listing website Indeed.com and expects to book a $100 million profit in the fourth quarter.
The company announced the sale to Recruit Co. Ltd., a leading job information company in Japan, in a securities filing on Tuesday.
The move comes a day after the Times said it had closed its sale of The About Group to Barry Diller's IAC/InterActiveCorp for $300 million.
The Times Co.'s shares were up 10 cents, or 1 percent, at $9.69 in afternoon trading Tuesday.
