Los Angeles, Aug 05: Monster Worldwide Inc., the online employment site, on Monday said it will not renew online advertising agreements with America Online Inc. and MSN Internet Service, which are set to expire on December 1 and December 31, respectively. The company, based in Maynard, Massachusetts, cited a shift toward maximizing its brand recognition as the online recruitment leader for the decision.

Monster Worldwide said it will instead redirect about $50 million per year on targeted, national and local marketing initiatives to raise its overall advertising mix, including broadcast. America Online is a unit of AOL Time Warner Inc., while MSN is a unit of Microsoft Inc. Bureau Report