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New York Times to Make $100M Profit on Indeed.com Sale

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On September 25, 2012, Indeed.com, a job listing aggregator, announced that it will be acquired by Recruit Co. Ltd. In connection with the transaction, The New York Times Company (NYSE: NYT) will sell all of its remaining interest in Indeed.com and expects to record an estimated after-tax gain of approximately $100 million in the fourth quarter of 2012.On September 25, 2012, Indeed.com, a job listing aggregator, announced that it will be acquired by Recruit Co. Ltd. In connection with the transaction, The New York Times Company (NYSE: NYT) will sell all of its remaining interest in Indeed.com and expects to record an estimated after-tax gain of approximately $100 million in the fourth quarter of 2012.

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