DoubleClick, 24/7 Media Holding Merger Discussions, Report Says
New York, Oct. 8 (Bloomberg) -- DoubleClick Inc. and 24/7 Media Inc., two Internet advertising companies, are holding acquisition talks in Los Angeles, according to the Silicon Alley Reporter Web site, citing unnamed industry sources. Under the terms of the possible transaction, DoubleClick, with a market value of $5.4 billion, will acquire 24/7, which has a market value of $870 million, the report said, adding that 24/7 will be valued based on a revenue multiple similar to DoubleClick's. The calculation would value 24/7 at $1.5 billion, about a 50 percent premium to its current share price of 40 1/2, the report said.
Last month, DoubleClick, the No. 1 Internet ad company, said a court temporarily barred rival AdForce Inc. from running a magazine advertisement that solicits customers of NetGravity Inc., which DoubleClick has agreed to acquire. |
