Wall Street snubs merger of Media Metrix, Jupiter

Published on .

Most Popular
Shares of Media Metrix and Jupiter Communications continued to fall the week of June 26 following Media Metrix's agreement to buy the Internet research company. Media Metrix's stock traded at a 52-week low, below $21, after it announced its plans to acquire Jupiter. The stocks fell despite analysts' statements that the merger is a potent one combining complementary companies.

The all-stock acquisition was initially valued at $414 million. The merged company, which would be called Jupiter Media Metrix, would have a market value of more than $1 billion, the companies said. The companies said they plan to keep separate brand services while cross-selling products; the two share about 200 clients.

Copyright June 2000, Crain Communications Inc.

In this article: