Yahoo!s Newspaper Deal Means End of CareerSite
PowerOne Media, once a major vendor for small and medium-sized newspapers, has sold off its recruitment site, CareerSite, to three of its newspaper owners: MediaNews Group, Hearst and Lee Enterprises. The companies are expected to shut down CareerSite after an 18-month transition period, per rumor, and try to convert its remaining affiliates to the new newspaper alliance with HotJobs. The news was first reported by PaidContent.
CareerSite's sale leaves CarCast as PowerOne Media's last major property. In February, the company sold its Zwire portal, national advertising, AdQuest and Yellow Pages units to TownNews, a vendor network largely controlled by Lee.
CareerSite hasn't kept pace with recruitment trends, and its sale doesn’t come as a surprise. Most of its affiliates will now likely switch up to HotJobs (or other vendors outside the consortium). By doing so, they’ll begin to finally focus less on job listings, which have been newspapers’ traditional bread and butter, and more on where the action is in recruitment: Indeed-style meta search, and direct recruitment solutions to employers.