NEW YORK (Reuters) - Monster Worldwide Inc. MNST.O, owner of jobs Web site Monster.com, said on Monday it will partner with privately held Community Newspaper Holdings Inc. (CNHI) on joint career and recruitment sites.
Monster and CNHI, the parent of 93 daily newspapers, will co-brand about 80 sites with a local focus, serving communities with about 1 million subscribers, to make Monster more relevant to small- and medium-sized employers, Monster said.
The partnership with Birmingham, Alabama-based CNHI is the latest step in a roughly year-old strategy at Monster to team up with local media. Its previous partnerships comprise some 200 newspapers and eight television stations.
Monster has job ad deals with daily newspapers including The New York Times Co. NYT.N and the Times' sister paper, the Boston Globe. Monster competes with CareerBuilder.com, which is owned by U.S. newspaper publishers Gannett Co. Inc. GCI.N, McClatchy Co. MNI.N and Tribune Co. TRB.N.
Monster, whose shares last week reached a three-month high above $50, have jumped some 20 percent this month on speculation the company may be bought out by another Internet company, an employment services company or a newspaper.
“We believe Monster could be an attractive acquisitions target for a newspaper or another traditional media outlet which has seen its classified help-wanted advertising shift online,” AG Edwards analyst Denise Garcia wrote in a May 18 research note.
The stock was down $1.37, or 2.7 percent, at $48.71 in early Nasdaq trading.
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