Tribune Media sells majority ownership stake in CareerBuilder

Tribune Media Company












TRCO, -0.19%










said late Monday it has sold the majority of its ownership stake in the CareerBuilder website, as other owner Tegna Inc.












TGNA, -3.39%










completed the site’s sale to a group led by investment funds managed by affiliates of Apollo Global Management












APO, +1.30%










and the Ontario Teachers’ Pension Plan Board. Tribune Media will receive about $158 million in cash as a participant in the sale and will retain an approximate 7% ownership stake in CareerBuilder. Shares of Tribune Media were flat in late trading and ended the regular session down 0.2%. In a separate statement Monday, Tegna announced the sale had been completed.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

two × two =