NYT to sell Indeed.com for $100M gain

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Associated Press

Posted on September 25, 2012 at 3:02 PM

Updated Tuesday, Sep 25 at 4:02 PM

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.

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