Media Metrix, Jupiter merge7/02/2000 08:00:00 PM Eastern
Media Metrix and Jupiter Communications, two major consultant and Internet-audience-measurement firms, have merged to launch new business initiatives as Jupiter Media Metrix.
Under the terms of the agreement approved by both boards of directors, Jupiter shareholders will receive 0.946 shares of Media Metrix for each share of Jupiter they own. The merger will be accounted for as a stock swap and will be tax-free to both companies' shareholders.
The merged company will have a combined market value in excess of $1 billion and 1,700 clients worldwide. Heading the management team will be Chairman and CEO Tod Johnson (formerly chairman and chief executive officer of Media Metrix) and President and Vice Chairman Gene DeRose (formerly chairman and CEO of Jupiter). Media Metrix President Mary Ann Packo and Jupiter President Kurt Abrahamson will be co-chief operating officers of Jupiter Media Metrix and continue to head their respective business units.