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Published on .

(Aug. 14, 2001) -- 24/7 Media, New York, announced today that it has pulled the funding for its division 24/7 Media Europe in order to "focus on its core businesses in North America," COO Tony Plesner said.

The news, which comes on the heels of last week's announcement that interactive holding company CMGI will no longer fund online marketing firm Engage, sent 24/7 Media's stock down 2 cents, or 8%, to 23 cents during afternoon trading. Competitor DoubleClick's stock also was down 22 cents, or 2.2%, at $9.75. Engage's stock dropped 4 cents, or 13.8%, at 25 cents on the Nasdaq. -- Adrienne Mand

Copyright August 2001, Crain Communications Inc.

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