How Credit Crunch Shaved Off At Least $45 Million Off Jupiterimages’ Sale To Getty Images
December 8, 2008When Jupitermedia sold off its online images business to its larger rival Getty Images for $96 million in October, some people considered it second-time lucky for the company: Jupiter tried to sell its whole business to Getty in early 2007, but it fell apart then. But the latest sale was not without hitches, and in fact the credit crisis that ballooned in September-October may have shaved almost $40 million to $45 million off the final deal price, based on the deal proceedings disclosed in JUPM’s PREM14A filing late last week.
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