(Bloomberg) -- Apollo Global Management Inc. has held talks with the lenders of its portfolio company CareerBuilder about potentially merging the job-search website with another firm, according to people familiar with the matter.
The talks are preliminary and plans could change, said the people, who asked not to be named because the conversations are private. A representative for CareerBuilder didn’t respond to requests for comment. Apollo declined to comment.
A drop in subscription renewals during the pandemic and a slower-than-anticipated roll-out of a new go-to-market strategy impacted CareerBuilder’s performance, according to a 2021 S&P Global Ratings note.
Last year, CareerBuilder extended the maturity of its first-lien loan by three years to July 2026. It also trimmed its workforce as it faced ongoing challenges from competition in its job-advertising segment, according to S&P.
Apollo, along with the Ontario Teachers’ Pension Plan Board, acquired a majority stake in CareerBuilder in 2017. A representative for Ontario Teachers’ declined to comment.
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