| San Jose Mercury News Feb. 3--By Mike Swift SAVE MONEY ON TRAVEL DEALS Yahoo said Tuesday that it plans to sell its HotJobs employment search service to Monster for $225 million in cash and a three-year agreement that would pay Yahoo for job seekers who click through to Monster.com. Yahoo said the sale would allow the Sunnyvale Internet portal to focus on Internet search and other areas of its core business, while still earning revenue from online recruiting. "Bringing together Monster and HotJobs creates even greater access and opportunities for both recruiters and job seekers", said Hilary Schneider, Yahoo executive vice president, in a prepared statement. "The transaction with Monster enables us to continue to provide an important service to our users through the traffic agreement." The deal, which is subject to antitrust approval and is expected to close in the third quarter, would place a link to Monster on Yahoo's home page in the U.S. and Canada, and would earn Yahoo annual payments based on clicks and expressions of interest. It also gives Monster the exclusive right to negotiate similar deals with Yahoo for its properties in Europe, Asia and Latin America. "We have substantially added quality traffic, while substantially increasing our customer base", said Sal Iannuzzi, chairman, chief executive officer and president of Monster Worldwide, in a call with analysts and journalists. HotJobs averaged 12.6 million unique visitors a month, according to Media Metrix comScore reporting. Yahoo also agreed to sell its Zimbra e-mail, calendar and collaboration platform to VMware in January, but CEO Carol Bartz said in a recent call with analysts at the conclusion of her first year leading Yahoo that the company is largely done reshaping itself, and does not plan major acquisitions or divestitures during her second year at the helm. "2010 is not about divestitures for Yahoo", Bartz said, adding: "We're done looking inward. We're looking outward at the increased opportunities ahead." With the addition of HotJobs' network of more than 600 daily and weekly newspapers, Monster's alliances with local papers will grow to a total of approximately 1,000, placing Monster in all 50 states. Yahoo will continue to manage its broader Newspaper Consortium partnership -- a network that includes the Mercury News -- including providing both search and display advertising, content distribution, and its ad-serving platform. Contact Mike Swift at 408-271-3648. Follow him on Twitter at Twitter.com/swiftstories.
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