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The Monster is back! Monster to puchase 50% of

Posted By: Thomas Shaw, 9:58am Thursday 27 November 2008    Print Article

There was speculation back in June 2008, that Monster was set to return into the Australian market. Today Monster/News Ltd announed they have entered into a joint venture partnership for online recruitment. Watch out SEEK, the Monster is back!

Extracts from their press release

“This new relationship between Monster and News Limited combines two industry leaders to jointly deliver recruitment solutions to both job seekers and for employers seeking talent in this important region,” said Sal Iannuzzi, chairman, president and chief executive officer of Monster Worldwide. “With 140 newspapers reaching nearly 12 million people each week, News Limited provides the largest audience of any publisher. When coupled with the Monster experience, this joint venture will become the leading career and recruitment destination in Australia.”

Under the terms of the joint venture agreements, which remain private, Monster will own a 50 percent stake in CareerOne. The joint venture will initially carry the CareerOne and Monster brands, and the organization will continue to operate from its existing headquarters in Sydney.

“This deal cements CareerOne’s position as Australia’s second largest digital employment brand and is great news for the Australian employment sector – it increases our competitive position and will bring a world class product into the local market, offering employers and advertisers the best possible platform to reach millions of potential job hunters,” said John Hartigan, chairman and chief executive of News Limited. “Monster led the world in creating the online jobs market, and a decade later its expertise and technology is unrivalled. The combination of News Limited’s sales and marketing prowess, together with Monster’s world-class technology and expertise, make a powerful combination.”

“Monster’s established expertise in building effective employment services for the small-to-medium size marketplace will be a powerful capability in how the joint venture provides employers and advertisers the best possible platform to reach job seekers,” said Mark Stoever, executive vice president, corporate development and strategic alliances for Monster Worldwide. “It’s a smart, strategic alliance -- one that we are confident will have a positive impact and hold tremendous value for our customers, both present and in the future.”

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