Monster's HotJobs buy may move 200 newspapers out of Yahoo's consortium

Posted by Leah McBride Mensching on February 4, 2010 at 4:57 PM

MonsterWorldwide has made a deal to acquire Yahoo's HotJobs, a competing recruiting site, which could mean up to 200 of the 800 newspapers Yahoo works with will be cut out of Yahoo's Newspaper Consortium, Editor & Publisher reported today. Yahoo is receiving US$225 million in cash for the purchase.

When members join the consortium, they can choose one of two contracts - one for the display side, which includes search and display advertising, content distribution and its APT ad platform, or the other, which includes recruitment ads through HotJobs, according to paidContent. Six-hundred of the 800 consortium members have the HotJobs contract, while about 200 smaller newspapers rely on the group's recruitment services for job ads revenue.

Lem Lloyd, vice president of the Yahoo Newspaper Consortium said Monster will take over the current terms of HotJobs' contract with 600 of the partners, according to E&P. The remaining 200

"Right now, the HotJobs members get recruitment ad distribution on their own site and on Yahoo's site--and that's it," Lloyd told paidContent. "Under the new arrangement, they would still get to be on their own sites and on Yahoo, but their job ads would also appear on Monster's site as well."

Yahoo bought HotJobs in 2001 for $436 million, outbidding TMP Worldwide Inc., which was the parent company of Monster.com at the time, according to the Los Angeles Times.