Yahoo Closes Right Media Acquisition
12.07.2007 13:49
Computers
- Source: Forbes
Internet media company Yahoo Inc. said Thursday it closed its $650 million acquisition of the 80 percent of Right Media Inc. it didn't already own. The purchase of online advertising exchange Right Media was announced in April, shortly after rival Google Inc. (nasdaq: GOOG - news - people ) bought online ad distributor DoubleClick Inc. for $3.1 billion. Michael Walrath, founder and chief executive officer of Right Media, will serve as senior vice president of Yahoo (nasdaq: YHOO - news - people ), reporting to Yahoo's president Susan Decker. Yahoo shares fell 4 cents to $26.65 in morning trading. Questions or comments about this story should be directed to the Financial News desk of The Associated Press at 212-621-7190. Copyright 2007 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed
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