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Knight Ridder, Tribune Co. to Merge Job-Search Web Sites.
Jul. 18--Knight Ridder and Tribune Co. announced Monday that they have agreed to acquire and merge two job search Web sites, CareerBuilder Inc. and CareerPath.com Inc., to boost their position in the competitive online recruiting market.
A company jointly owned and financed by Tribune and KnightRidder.com will buy CareerBuilder for about $200 million, or $8 per share, in cash. KnightRidder.com is owned by Knight Ridder, the parent company of the Mercury News, and is responsible for Knight Ridder's online operations. Tribune publishes the Chicago Tribune.
Knight Ridder and Tribune are already part owners of CareerPath.com, and the newly formed company will buy …
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