Gannett wants CareerBuilder

Gannett continues to review Tribune financials for a possible offer. According to Chicago Tribune writer Michael Oneal (Gannett may be interested ), its the CareerBuilder – employment tabloid and website – that interests the media giant:

Gannett may see special interest in Tribune because of their joint ownership of CareerBuilder. If Gannett were to take over Tribune, its CareerBuilder stake would give Gannett 85 percent ownership of the asset, which would allow it to carry CareerBuilder on its income statement instead of treating it as an unconsolidated minority position. As CareerBuilder grows, Gannett’s ownership would be increasingly valuable.