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.

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