Tegna Sells Controlling Stake in CareerBuilder; Tribune Cashes in as Well
Tegna will sell CareerBuilder to “an investor group led by investments funds managed by affiliates of Apollo Global Management” and the Ontario Teachers’ Pension Plan Board, the broadcaster said in a news release Monday. The deal would reduce its 53…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
percent controlling interest in CareerBuilder to 12.5 percent, dropping Career Builder out of Tegna’s reporting operating results. Tegna is expected to receive $250 million from the deal. Tribune, which has a 32 percent interest in CareerBuilder, will receive $157 million and its stake will drop to 8 percent, Tribune said. The transaction is subject to regulatory approval and is expected to close in Q3 2017, the broadcasters said.