By: Yahoo said Monday that it is buying the remaining 80 percent interest in online advertising exchange Right Media Inc. that it does not already own for approximately $680 million.
Yahoo, which acquired a 20 percent stake in privately held Right Media in October 2006, said shareholders would be paid in roughly equal parts of cash and stock, with Yahoo assuming the New York-based company's options and equity awards.
Right Media said more than 19,000 advertisers, publishers and networks buy and sell advertising on its auction-based exchange.
Terry Semel, Yahoo's chairman and chief executive, said in a statement that the acquisition further's Yahoo's goal of creating "the industry's most open, accessible and vibrant advertising marketplace, which will help democratize the buying and selling of digitally enabled advertising."
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