/ 30 April 2007

Yahoo! buys rest of Right Media

Yahoo! said on Monday it is buying the remaining 80% interest in online advertising exchange Right Media that it does not already own for approximately $680-million.

Yahoo!, which acquired a 20% stake in privately held Right Media in October last year, said shareholders will be paid in roughly equal parts of cash and stock, with Yahoo! assuming the New York-based company’s options and equity awards.

Right Media said more than 19 000 advertisers, publishers and networks buy and sell advertising on its auction-based exchange.

Terry Semel, Yahoo!’s chairperson and chief executive, said in a statement that the acquisition furthers Yahoo!’s goal of creating ”the industry’s most open, accessible and vibrant advertising marketplace, which will help democratise the buying and selling of digitally enabled advertising”. — Sapa-AP