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Technology Stocks : 24/7 Media, Inc. (TFSM) -- Ignore unavailable to you. Want to Upgrade?

To: Mark Peterson CPA who wrote (286)	11/4/1999 1:21:00 AM
From: Richard J Lamarre	Read Replies (1) \| Respond to of 669

DoubleClick, 24/7 shares jump amid merger rumors biz.yahoo.com By Derek Caney NEW YORK, Nov 3 (Reuters) - Shares of DoubleClick Inc. (NasdaqNM:DCLK - news) and 24/7 Media Inc. (NasdaqNM:TFSM - news) rose on Wednesday amid revived speculation about a possible merger between the two Internet advertising sales networks. DoubleClick shares climbed 6 percent, or 8-1/4, to 145, while 24/7 shares jumped 14.7 percent, or 6-9/16, to 51-3/16, both on the Nasdaq stock market. DoubleClick and 24/7 serve large networks of individual Web sites, buying and selling advertising on their behalf. They also compile research and data on Web surfing patterns to help advertisers target their audience. Spokeswomen from both 24/7 and DoubleClick declined to comment about the merger speculation, which comes in the wake of a rapid consolidation in the fast-growing industry. The consolidation has largely been spearheaded by venture capital company CMGI Inc. (NasdaqNM:CMGI - news), which in September said it was spending $1.25 billion to acquire three advertising networks: Flycast Communications Corp. (NasdaqNM:FCST - news), AdKnowledge and AdForce Inc. (NasdaqNM:ADFC - news). CMGI, whose stock closed up 1-3/8 to 103-7/8 Wednesday on the Nasdaq, held an initial public offering in July for Engage Technologies, which offers software and services to enable advertisers and merchants to target advertisements to specific audiences. CMGI also is the majority owner of the AdSmart network. The DoubleClick and 24/7 speculation is ``based on some of the recent acquisitions by CMGI and thoughts that there will be continued consolidation in the industry,' said Daniel MacKeigan, an analyst with Friedman Billings Ramsey & Co. ``The perception is that you either have to be with CMGI or DoubleClick, or you're going to be without a chair when the music stops,' he said. CMGI and DoubleClick are believed to the biggest and best-capitalized networks, making them the most likely buyers, analysts said. Other reasons for 24/7's rising share price include the discount the stock carries relative to the rest of the sector and expectations of strong third-quarter financials when the company reports operating results on Nov. 9, MacKeigan said. Appearing to complicate any tie-up was 24/7 Media's introduction on Tuesday of a new system for online ad delivery and management that competes with software from DoubleClick. The company said it was in the process of receiving a patent on the software. The stocks also may have benefited on Wednesday from enthusiasm growing out of ``ad:tech,' a three-day Internet advertising conference in New York -- the largest industry gathering of the season. Online advertising in the second quarter surged to $934.4 million, more than double the amount in last year's corresponding period, according to a study conducted by PricewaterhouseCoopers on behalf of the Internet Advertising Bureau, a trade group. The report was released at ad:tech. ``The (online) ad business in aggregate is growing faster than than the content or the portal business,' said Dana Serman, an analyst with Lazard Freres. ``I think we can only see revenue growth. Media buyers recognize that audiences continue to fragment, and that this is the right market to be in.'