24/7 Media, Inc. Acquires CLIQNOW! Sales Group.NEW YORK--(BUSINESS WIRE)--June 4, 1998-- Leading Internet Network Pursues Aggressive Growth Strategy 24/7 Media, Inc. today announced its acquisition of CLIQNOW! Sales Group. CLIQNOW!, the Internet advertising Delivering ads to Internet users via Web sites, e-mail, ad-supported software and Internet-enabled cellphones. Also called an "ad network," Internet advertising organizations act as a middleman between the advertiser and the Web sites and software publishers that display the ads. representation division of K2 Design, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :KTWO) currently represents more than 75 Web sites serving approximately 75 million impressions per month through its eight branded sub-networks including CLIQFINANCIAL!, CLIQCOLLEGE! and CLIQTRAVEL!. In exchange, K2 Design will receive $1 million in cash and $3 million in 24/7 Media convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". . CLIQNOW!'s content sub-networks will remain intact and positioned separately from the 24/7 Network. CLIQNOW!'s six-person sales team will expand and operate independently, and will be managed by Scott Paternoster paternoster: see Lord's Prayer. . Paternoster will retain the title of president of the CLIQNOW! division, and will also assume the title of senior vice president at 24/7 Media. All support functions will be integrated into 24/7 Media's corporate infrastructure. In addition, the CLIQNOW! properties will be converted to 24/7 Media's ad-serving technology, Adfinity(tm). Joe Apprendi, executive vice president, CLIQNOW! Sales Group, will work in conjunction with the sponsorships and promotion team of 24/7 Media as senior vice president. "CLIQNOW! has developed an impressive client roster," said David J David J. Haskins (b. April 24, 1957, in Northampton, England) is a British alternative rock musician. He was the bassist for the seminal gothic rock band Bauhaus. Life and work . Moore, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of 24/7 Media, Inc. "Its properties have a unique positioning that complements the 24/7 Network, and we share similar sales strategies. We look forward to pooling our strengths to provide the best Internet advertising solutions to CLIQNOW!'s Web sites and advertisers." Established in 1996, CLIQNOW! has been operating as a division of the interactive agency, K2 Design. High profile sites represented by CLIQNOW! include Thomson Investor, Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. , PR Newswire  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . , fastWeb, Women's Forum, and Wall Street Sports. "After considering several options, it became clear that the best opportunity to carry out our vision was with 24/7," said Scott Paternoster, president, CLIQNOW! Sales Group. "Like CLIQNOW!, 24/7 is managed by media leaders who understand the business of Internet advertising sales." 24/7 Media, Inc., one of the largest Internet media companies, operates an online advertising network representing more than 80 brand-name Web sites. The Company, through its subsidiary Intelligent Interactions Corporation, also develops and markets its underlying ad-serving technology, Adfinity(tm), as well as an e-commerce direct marketing solution, dbCommerce(tm). Based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , 24/7 Media, Inc., is a privately-held, venture-backed company with offices in Virginia, Chicago, Dallas, Los Angeles, San Francisco and Seattle. More information about 24/7 Media, Inc. can be found on its Web site located at http://www.247media.com.
CONTACT: Christian Harper Leslie Howard
Connors Communications 24/7 Media, Inc.
212-807-7500 212-603-5384
christian@connors.com lhoward@247media.com
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