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Stock Market & Financial Investment News

News Breaks
July 15, 2014
09:03 EDTDMDDemand Media to complete tax-free spin-off of Rightside Group
Demand Media announced that the U.S. Securities and Exchange Commission has declared the Rightside Group Registration Statement on Form 10 effective, and that the board of Demand Media has approved the separation of Rightside from Demand Media in the form of a tax-free dividend involving the distribution of all outstanding shares of Rightside common stock to holders of Demand Media common stock on August 1. Demand Media’s board also determined to implement a reverse stock split of Demand Media’s common stock at a reverse stock split ratio of 1-for-5 immediately following the distribution. Under the terms of the distribution and reverse stock split, Rightside common stock will be distributed on August 1 to Demand Media stockholders of record as of close of business on July 25, the record date for the distribution. Demand Media stockholders will receive one share of Rightside common stock for every five shares of Demand Media common stock held by such holders. Following the distribution, Demand Media will effect a 1-for-5 reverse stock split of its outstanding and treasury shares of common stock. Immediately after the distribution is completed, Rightside will be an independent, publicly traded company, and “regular-way” trading of Rightside’s common stock will begin the first trading day after the completion of the distribution. The Rightside stock will be listed on the NASDAQ under the symbol “NAME.” Rightside will own and operate the domain name services business of Demand Media, and Demand Media will operate as a pure-play Internet-based content and media company. Neither company will have any ownership interest in the other.
News For DMD From The Last 14 Days
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March 5, 2015
16:11 EDTDMDDemand Media says Rachel Glaser to join company as CFO in mid-April
Sean Moriarty, CEO of Demand Media said, "I am also excited to announce the conclusion of our CFO search with the appointment of Rachel Glaser, and we are looking forward to her start date in mid-April. Her depth of experience in finance and operations will be critical to our transformation as we continue to focus on disciplined capital deployment and investment across our portfolio of businesses. Rachel comes to Demand from Move, Inc., where she served as CFO and helped lead Move through its successful transformation and recent sale to News Corp.”
16:09 EDTDMDDemand Media reports Q4 adjusted EPS (2c), may not compare to consensus (37c)
Reports Q4 revenue $43M, consensus $37.85M.

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