Monster, New York Times Team on Job Sites:
Monster Worldwide has signed a deal with The New York Times Co. to create cobranded job search Web sites in several markets. The move, which aims to boost the newspaper conglomerate's shrinking piece of the classified advertising pie, is a response to similar recent deals struck by Google and Yahoo with rival newspaper publishers.
In a move that underscores the shift in classified advertising revenue from print to the Internet,
The New York Times Co. (NYSE: NYT) on Wednesday announced a strategic alliance with
Monster Worldwide to create cobranded job sites.
The deal calls for the two companies to create Web sites for 19 newspapers owned by The New York Times Co., including The New York Times, The Boston Globe, and a number of smaller papers in the Northeast, the Southeast and California.
The partnership will give those newspaper sites access to Monster features such as resume databases and keyword search tools. In addition, employers will be able to use a "click to print" option that easily and quickly converts online postings into geographically focused classified ads.
Specific financial terms of the deal were not announced. The new sites are expected to be live in March.
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