- Jupitermedia Announces Completion of Sale of Jupiterimages to Getty Images and Change of Jupitermedia Name to WebMediaBrands
Jupitermedia Corporation announced that it has completed the previously announced sale of Jupiterimages Corporation (“Jupiterimages”), a wholly-owned subsidiary of Jupitermedia, to Getty Images, Inc. (“Getty Images”) for $96 million in cash, subject to certain post-closing adjustments (the “Sale”).

In connection with the Sale, Jupitermedia terminated its Credit Agreement with KeyBank National Association (“KeyBank) and applied approximately $82 million of the proceeds from the Sale to repay all outstanding indebtedness. Jupitermedia’s existing interest rate swap arrangement with KeyBank will remain outstanding.
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- Jupitermedia Corporation Reports an Adjustment to Its Results for the Third Quarter Ended September 30, 2008
Jupitermedia Corporation (Nasdaq: JUPM) announced today that it identified an adjustment to its financial results for the third quarter ended September 30, 2008, which results were previously announced on November 6, 2008. The adjustment to the results for the third quarter ended September 30, 2008 was due to the recording of a non-cash impairment charge to goodwill in the amount of $40.0 million. In connection with the recently announced agreement to sell its Online images business to Getty Images, Inc., Jupitermedia concluded that goodwill was impaired as of September 30, 2008 based on the negotiations with Getty Images that occurred during the third quarter ended September 30, 2008.