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Monster, MSNBC Ink Pact for Career Site

April 10, 2008
Related Topics: Mergers and Acquisitions, Strategic Planning, Latest News
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MSNBC.com has career goals. The news Web site announced on Thursday, April 10, an agreement with Monster Worldwide Inc. that makes the online job site the exclusive career services provider for MSNBC.com.

Under the agreement, which includes MSNBC.com and Todayshow.com, Monster will be the exclusive provider of career tools and services for MSNBC-affiliated properties. Through a co-branded site, job seekers will be able to access Monster’s search and match capabilities and view job openings nationwide, as well as conduct regional job searches on the site’s local news section. Features include a résumé builder, salary information center and portfolio of job search management tools.

The agreement is a boon for Monster, which will have direct access to MSNBC.com’s 35 million unique visitors.

With an increasing number of companies entering the online job search industry, and chief rival Careerbuilder.com inking a deal with popular social networking site Facebook, Monster is struggling to maintain its dominance in the once-sparse online job services industry.

Rumors of a potential buyout have been circulating since Monster chief executive Sal Iannuzzi joined the company a year ago. Iannuzzi, previously CEO of Symbol Technologies, sold that company to Motorola in September 2006. After bringing Symbol CFO Timothy Yates to Monster in June, rumors grew that Iannuzzi might be preparing Monster for a similar sale.

But Monster has yet to announce any such intentions. In January, the company acquired San Francisco-based Affinity Labs for $61 million, expanding its career guide, search, trade news and social networking offerings. The company also launched its “Your Calling Is Calling” campaign, aimed at marketing Monster as a means of finding a “dream job” and not just a source for job listings.

Shares of Monster fell as much as 2% to $23 and were down 0.7% intraday. Shares have shed 27.5% so far this year.

Filed by Kira Bindrim of Crain’s New York Business, a sister publication of Workforce Management. To comment, e-mail editors@workforce.com.

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