The Sun-Times Media Group Inc., which publishes the Chicago Sun-Times and other newspapers, and career Web site operator Monster Worldwide Inc. have agreed to launch co-branded job search and recruitment Web sites, the companies said Monday.
Financial terms were not disclosed.
Besides a co-branded 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 said its newspapers and Web sites together reach more than four million readers a week in print and online.
Like other newspaper publishers, the Sun-Times has been struggling with a severe 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.