Mediacom-Release-Chinadotcom
Chinadotcom And 24/7 Media Expand Strategic Relationship
Chinadotcom Gains Access to Full Suite Of 24/7 Media's Interactive Marketing Solutions And Extends Geographic Footprint
as Part of Perpetual JV
NEW YORK, Aug. 23 RNewswire-AsiaNet/ -- chinadotcom corporation (Nasdaq: CHINA); (web site: www.corp.china.com), the
leading pan- Asian integrated Internet company, and 24/7 Media, Inc. (Nasdaq: TFSM), one of the largest global
interactive marketing and technology companies, today announced an agreement that will expand the two companies'
strategic partnership. Under the expanded relationship, 24/7 Media will provide its industry leading technology-based
marketing solutions to 24/7 Media Asia, a subsidiary of chinadotcom. These marketing services include 24/7 Mail, a
targeted e-mail marketing solution; 24/7 Connect, an online advertising results measurement technology; and AwardTrack,
a customer reward program that develops customer affinity and loyalty.
chinadotcom and 24/7 Media's relationship has been rewarding for both parties since its inception in December 1998. The
success of this alliance and the mutual confidence it represents in the future of the Asian Internet market is being
recognized through the agreement's extension of the seven year franchise to a perpetual license.
This agreement extends 24/7 Media Asia's reach into the Asia Pacific region by two additional countries with
considerable market potential: India, with the world's second largest population, and New Zealand, a relatively mature
Internet market in the Asia Pacific region.
"chinadotcom has executed its strategy of establishing 24/7 Media Asia asa dominant player in the online advertising
market in Asia," said David J. Moore, chief executive officer of 24/7 Media. "This agreement enables 24/7 Media to
deliver its full suite of online solutions to the largest marketplace in the world. The combination of our broad range
of technology solutions with now the largest reach of any online media company in the world makes our competitive
position exceptionally compelling. Additionally, we are very pleased that the expansion of this relationship further
strengthens the mutual commitment between 24/7 Media and chinadotcom. Our leading technology and products combined with
24/7 Media Asia's expansive reach will further solidify 24/7 Media Asia's leadership position."
"Access to these proprietary end-to-end technology-based marketing solutions will improve our operating efficiency. The
solutions also provide us with many opportunities to generate additional revenue and enhance our capability to help Web
sites generate income from their inventory," commented Peter Hamilton, Chief Operating Officer of chinadotcom. "The
highly targeted, one-on-one nature of 24/7 Mail has allowed sites in the USA to generate sales at CPM's up to 5 times
that achieved by traditional banners, while Advertisers and Direct Marketers are able to achieve a higher return on
their investment through more accurate targeting and higher response rates. 24/7 Connect enables us to deliver a
multitude of high margin revenue streams through its global operating platform," he continued. "Together with
AwardTrack, we are highly confident these value-added services that we can provide to an expanded customer base which
spans the largest continent in the world will increase traffic on their Web sites, thereby generating incremental
revenue and significantly enhancing customer retention. For chinadotcom, the addition of advanced customer acquisition,
retention and reward solutions gives us a distinctive competitive advantage that should translate into improving
operating margins."
As part of this agreement, chinadotcom now becomes 24/7 Media's largest shareholder with an approximate seven percent
interest in of 24/7 Media Inc.; 2.5 million shares of 24/7 Media Inc. common stock will be issued to chinadotcom. In
exchange, 24/7 Media Inc. will acquire a 19.9 percent interest in chinadotcom's subsidiary, 24/7 Media Asia. Peter Yip,
Chief Executive Officer of chinadotcom, will join 24/7 Media's Board of Directors. As a result of the 1998 agreement
that established 24/7 Media Asia, 24/7 Media is a strategic shareholder of chinadotcom corporation, owning 5.7 million
shares that represent a six percent interest. David J. Moore, Chief Executive Officer of 24/7 Media, is a member of the
Board of Directors of chinadotcom.
About 24/7 Media Inc.
24/7 Media Inc. is a leading global provider of end-to-end interactive technology and marketing solutions and services
for Web publishers, online advertisers, advertising agencies, e-marketers and e-commerce merchants. 24/7 Media provides
a comprehensive suite of media and technology products and services that enable these client groups to attract and
retain customers worldwide, and to reap the benefits of interactive and other electronic media. Our solutions include
advertising and direct marketing sales, ad serving, promotions, email list management, email list brokerage, email
delivery, data analysis, loyalty marketing and convergence solutions, all delivered from our industry-leading data and
technology platforms. Our 24/7 Connect ad serving technology solutions are designed specifically for the demands and
needs of advertisers and agencies, Web publishers and e-commerce merchants. Based in New York, 24/7 Media Inc. has
offices in 51 cities in 28 countries. For more information, please visit www.247media.com .
About chinadotcom corporation
chinadotcom corporation (Website: www.corp.china.com) is a leading pan-Asian Internet company offering web solutions,
portal and online advertising services. Through its three business units, chinadotcom provides a full range of Internet
services around the Asia Pacific region that; 1) build e-business strategies and solutions (Web Connection), 2)
distribute content via its portal network platform (china.com, cww.com, hongkong.com, and taiwan.com), and 3) sell
services through online marketing (24/7 Media Asia Limited).
Fuelling the growth of each of these three business units is a synergistic investment strategy that leverages on
chinadotcom's existing operational and cost infrastructure. By partnering with companies that have proven and successful
track records, such as America Online, Softbank, Trans Cosmos and Agence France Presse, chinadotcom is well positioned
to create long term shareholder value through its investments.
The company has offices across more than 10 markets, including Japan, Korea, Australia, China, Hong Kong, Taiwan,
Singapore, Thailand, Malaysia, and the USA. For more information about chinadotcom corporation, please visit
www.corp.china.com .
Safe Harbor Statement
The statements in this news release, other than the historical financial information, may contain forward-looking
statements that involve risks and uncertainties that could cause actual results to differ from anticipated results.
Further information on risk factors that could affect chinadotcom corporation's results of operations is detailed in
chinadotcom corporation's registration statements and annual report, as filed with the United States Securities and
Exchange Commission.
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