The Sun-Times Media Group Inc., (which publishes the Chicago Sun-Times) and career Web site operator Monster Worldwide Inc. have joined hands to launch a cobranded job search and recruitment Web site.
However the financial terms are yet to be disclosed.
Besides a cobranded Web site with the Chicago Sun-Times, the companies will launch sites with the Sun-Times News Group’s 70 suburban publications.
The Sun-Times newspapers and Web sites together reach around four million readers a week.
Like other newspaper publishers, the Sun-Times has been struggling with the downturn in ad revenue and circulation. After reporting a third-quarter loss of nearly $170 million in November, the company began another round of cost-cutting measures and said its chairman, several board members and chief financial officer would all leave their posts.
Monster said its media partnerships now include more than 250 newspapers and 100 television outlets. Its shares fell 25 cents, or 2 percent, to $12.34 in morning trading.
Sun-Times’ shares were delisted from the New York Stock Exchange in May. On the over-the-counter Pink Sheets, the stock was valued at roughly 6 cents.