CBS Corp has again added to its growing internet portfolio. In its second such deal this week, the media giant said Wednesday that it has acquired a 38% stake in privately-held jobs.com Inc. In an arrangement structured like most of CBS’s internet investments, the online job recruitment service will receive $62m in advertising, promotion and other consideration across CBS’s various media properties in return for the stake.
The term of the promotional activity is limited to five years and CBS will hold two seats on jobs.com’s board of directors. Jobs.com bills itself as an alternative to newspaper job postings for both companies and prospective employees. Its Resumail software system allows for the writing and distribution of resumes via the internet.
News of the jobs.com stake came only two days after CBS agreed to provide $33m in promotion to acquire a 22% stake in Wrenchead.com Inc, a web-based vendor of auto parts and provider of related information. CBS holds stakes in a handful of other internet companies, including SportsLine USA Inc, MarketWatch.com Inc and Medscape Inc.
