Yahoo said Wednesday that it will sell its HotJobs site to Monster Worldwide in a deal valued at $225 million. In 2001, Yahoo bought HotJobs for $436 million in stock and cash.
Under CEO Carol Bartz, Yahoo has been offloading so-called non-core businesses such as Zimbra. HotJobs fell into a similar category.
In the deal with Monster (statement), Yahoo will sell HotJobs and enter a three-year traffic agreement when the purchase closes. Monster will become Yahoo's provider of career and jobs content on the U.S. and Canadian home pages.
The Yahoo-Monster agreement calls for annual payments based on clicks and job interest. The agreement also gives Monster the exclusive right to ink traffic pacts with Yahoo properties around the world.
Yahoo executive vice president Hilary Schneider said in a statement that the Monster deal allows it to focus on its core businesses. Monster gets to largely seal up the online job hunting market by consolidating job listings, expanding the pool of employers and growing reach.
Yahoo added that it would continue to manage the Newspaper Consortium partnership, which covers search and display advertising as well as content distribution. For instance, Yahoo's HotJobs content appeared in Sunday newspapers.