The ratio of the proposed split has not yet been decided. A proxy statement is due out in about two weeks, at which time a meeting to consider the proposal will be set.
The objective is to maintain 24/7 Media's current listing on the Nasdaq National Market, from which it faces being delisted for not maintaining a minimum bid price of $1 per share.
Shares of 24/7 closed today at 18 cents, considerably off its 52-week high of $14.25. -- Adrienne Mand
Copyright September 2001, Crain Communications Inc.