CareerBuilder Receives Antitrust Clearance for Acquisition of HeadHunter.Net
PRNewswire
RESTON, Va., and ATLANTA

CareerBuilder, Inc., through its parent Career Holdings, Inc., and HeadHunter.Net, Inc. , announced today that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act applicable to the tender offer for all outstanding shares of common stock of Headhunter by CB Merger Sub, Inc., a wholly owned subsidiary of Career Holdings. The tender offer is being made pursuant to a merger agreement dated August 24, 2001, among Headhunter, Career Holdings and CB Merger Sub, Inc. The tender offer is scheduled to expire at 5:00 p.m., New York City time, on Tuesday, November 6, 2001, unless extended.

(Photo: http://www.newscom.com/cgi-bin/prnh/20010104/DCTH002LOGO-a )

It is expected that shares of Headhunter common stock properly tendered and not withdrawn prior to 5:00 p.m., New York City time, today will be accepted for payment pursuant to the terms of the tender offer.

On August 31, 2001, CB Merger Sub commenced its previously announced tender offer for all of the shares of common stock of Headhunter at $9.25 per share, net to the seller, in cash. On September 18, 2001, Career Holdings and Headhunter announced that the FTC had issued a request for additional information and documents in connection with the proposed acquisition, which extended the waiting period. Career Holdings is principally owned by Tribune Company and Knight Ridder Digital, a subsidiary of Knight-Ridder, Inc. .

American Stock Transfer & Trust Company is the depositary for the tender offer and Georgeson Shareholder Communications Inc. is the information agent.

This news release does not constitute an offer to purchase or a solicitation of an offer to sell any securities. The complete terms and conditions of the tender offer are set forth in an offer to purchase and related letter of transmittal, which are included in a tender offer statement filed by Career Holdings, CB Merger Sub, Knight Ridder Digital and Tribune Company with the Securities and Exchange Commission. Headhunter has filed a solicitation/recommendation statement with respect to the tender offer. The offer to purchase, letter of transmittal and solicitation/recommendation statement were mailed to Headhunter shareholders. The tender offer statement (including the offer to purchase, letter of transmittal and related documents) and the solicitation/recommendation statement are also available for free on the Commission's Web site at http://www.sec.gov/ .

None of Career Holdings, Headhunter, Tribune or Knight Ridder is responsible for updating the information contained in this press release beyond the published date, nor for changes made to this document by wire services or Internet service providers.

About CareerBuilder, Inc.

CareerBuilder is the leading provider of targeted Web recruiting. Through the CareerBuilder Network, employers can post jobs to pinpoint exactly the right candidates by location, industry or diversity. Job seekers can instantly search the Internet's best career sites, in just a couple of clicks. CareerBuilder also provides personalized career services and advice. The CareerBuilder Network is the most powerful career network on the Web, including careerbuilder.com -- the flagship career center -- and the career centers of premier destination sites including Bloomberg.com, iVillage.com and latimes.com, Philly.com, chicagotribune.com and BayArea.com.

About HeadHunter.NET, Inc.

Headhunter, a leading national online recruiting and job awareness network, empowers candidates and corporations to manage the job search process. The site features more than two million resumes and jobs representing 10,000 of the nation's top employers across virtually every industry. Headhunter distinguishes itself by providing job seekers privacy when searching and applying for jobs, and allows job seekers and job posters to manage and track the visibility and performance of their listings. Headhunter is based in Atlanta, with offices nationwide.

About Knight-Ridder, Inc.

Knight Ridder is the nation's second-largest newspaper publisher, with products in print and online. The company publishes 32 daily newspapers in 28 U.S. markets, with a readership of 8.5 million daily and 12.6 million Sunday. Knight Ridder also has investments in a variety of Internet and technology companies and two newsprint companies. The company's Internet operation, Knight Ridder Digital, creates and maintains a variety of online services, including Real Cities (http://www.realcities.com/ ), a national network of city and regional destination sites in 55 U.S. markets. Knight Ridder and Knight Ridder Digital are located in San Jose, Calif.

About Tribune Company

Tribune is one of the country's premier media companies, operating businesses in broadcasting, publishing and on the Internet. It reaches more than 80 percent of U.S. households, and is the only media company with television stations, newspapers and Web sites in the nation's top three markets. Tribune media span 23 major-market television stations, including national superstation WGN-TV; 11 market-leading daily newspapers, including the Los Angeles Times, Chicago Tribune and Newsday; and news and information Web sites in 18 of the nation's top 30 markets.

   MEDIA CONTACTS:                           INVESTOR CONTACTS:
   Christine Hennessey, Tribune Co.          Ruthellyn Musil, Tribune Co.
   chennessey@tribune.com                    rmusil@tribune.com
   312/222-4850 (Office)                     312/222-3787
   312/222-1573 (Fax)                        312/222-1573

   Cynthia Funnell, Knight Ridder Digital    Polk Laffoon, Knight-Ridder,
                                              Inc.
   cfunnell@knightridder.com                 plaffoon@knightridder.com
   408/938-6076 (Office)                     408/938-7838 (Office)
   408/938-6080 (Fax)                        408/938-7813 (Fax)

   Barry Lawrence, CareerBuilder, Inc.       Gil Fuqua, HeadHunter.net, Inc.
   Barry.Lawrence@careerbuilder.com          gfuqua@corpcomminc.com
   703/259-5793 (Office)                     615/254-3376 (Office)
   703/259-5785  (Fax)

   Craig Stamm, HeadHunter.net, Inc.
   Craig.stamm@headhunter.net
   770/349-2480 (Office)
   770/349-2931 (Fax)

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SOURCE: CareerBuilder, Inc.

Contact: Media: Christine Hennessey of Tribune Co., +1-312-222-4850,
Fax: +1-312-222-1573, chennessey@tribune.com; or Cynthia Funnell of Knight
Ridder Digital, +1-408-938-6076, Fax: +1-408-938-6080,
cfunnell@knightridder.com; or Barry Lawrence of CareerBuilder, Inc.,
+1-703-259-5793, Fax: +1-703-259-5785, Barry.Lawrence@careerbuilder.com; or
Craig Stamm of HeadHunter.net, Inc., +1-770-349-2480, Fax: +1-770-349-2931,
Craig.stamm@headhunter.net; or Investors: Ruthellyn Musil of Tribune Co.,
+1-312-222-3787 or +1-312-222-1573, rmusil@tribune.com; or Polk Laffoon of
Knight-Ridder, Inc., +1-408-938-7838, Fax: +1-408-938-7813,
plaffoon@knightridder.com; or Gil Fuqua of HeadHunter.net, Inc.,
+1-615-254-3376, gfuqua@corpcomminc.com