Newspaper giant Gannett (GCI) owns a controlling influence in CareerBuilder.com. This online job-seeking portal is sure to see big revenue in the coming months as the employment picture brightens up and most human resource departments post their open positions.
A recent Wall Street Journal survey of 56 economists concluded that 1.4 million new jobs will be created in 2010. That means big things for CareerBuilder.com.
In general, things are looking up for Gannett. Advertising for newspapers is picking up now that the recession is over, and Gannett has managed to top earnings expectations for each of the past four quarters. Unlike other media companies, Gannett is strongly in the black right now and keeps posting a profit. This makes it a great buy.
At the time of this writing, Louis Navellier did not own shares of GCI in personal or client portfolios.
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