Jupitermedia Announces Completion of Sale of Jupiterimages to Getty Images and Change of Jupitermedia Name to WebMediaBrands
24 2월 2009 - 7:03AM
Business Wire
Jupitermedia Corporation (�Jupitermedia�) (NASDAQ: JUPM)
announced today that it has completed the previously announced sale
of Jupiterimages Corporation (�Jupiterimages�), a wholly-owned
subsidiary of Jupitermedia, to Getty Images, Inc. (�Getty Images�)
for $96 million in cash, subject to certain post-closing
adjustments (the �Sale�).
In connection with the Sale, Jupitermedia terminated its Credit
Agreement with KeyBank National Association (�KeyBank) and applied
approximately $82 million of the proceeds from the Sale to repay
all outstanding indebtedness. Jupitermedia�s existing interest rate
swap arrangement with KeyBank will remain outstanding.
In addition, Jupitermedia announced that it will change its name
to �WebMediaBrands Inc.� and its NASDAQ symbol to WEBM, effective
February 24, 2009.
The sale of Jupiterimages to Getty Images and the name change
were approved by Jupitermedia�s stockholders during a special
meeting held on February 20, 2009.
WebMediaBrands will continue to operate the�BtoB online
communities�that were not sold to Getty Images. These�communities
are�comprised of Internet.com for IT managers and Web developers;
Mediabistro.com for media, publishing�and communications
professionals; and Graphics.com for design and�creative
professionals. These three�communities have a combined�22 million
unique visitors and 70 million page views.
All current Jupitermedia and WebMediaBrands Inc. press releases
can be found online at
www.jupitermedia.com/corporate/press.html.
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