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24/7 Real Media cancels debt

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New York--24/7 Real Media Inc. Wednesday announced it has completed a deal to cancel $8 million in debt and interest held by Publigroupe USA Holdings in exchange for $1.5 million cash and 4.8 million shares of common stock. 24/7 has also secured $3.4 million in preferred stock from various investors, including CEO David Moore. The moves leave the company debt-free.
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