RealTime IT News

DoubleClick, 24/7 Said to Be Talking Merger

Interactive ad giants DoubleClick Inc. and 24/7 Media are reportedly considering a $1.5 billion merger.

The Silicon Alley Reporter reported that DoubleClick CEO Kevin O'Connor and 24/7 Media brass "reportedly have been holed up in a hotel for over a week discussing terms for the deal."

The SAR quoted sources as saying that DoubleClick, which has a $5.4 billion market capitalization, would acquire 24/7 Media, currently valued at $870 million. The proposed merger calls for 24/7 to be acquired in a deal valued at about $1.5 billion.

Spokesmen for the two companies declined to comment on the possibility of a merger. DoubleClick (DCLK) was trading at around $133.75 in midafternoon, down from a day's igh of $136. 24/7 (TFSM) was trading at $41, down from an opening price of $44. p> Any such deal would create what likely would be the largest global Internet advertising network. Media Metrix's August 1999 report had DoubleClick's