So Long Countrywide, Acquired For $4B
Bank of America is buying Countrywide Financial for just over $4 billion according to reports pouring out of everywhere. The deal is about $500 million less than Countrywide’s value on Thursday, according to MarketWatch, but since the transaction is all-stock, investors in the financial firm will stand to gain from the increase in Bank of America stock prices.
A blog by Larry Dignan on ZDNet projects that when the deal is closed, Countrywide Financial, which is the second largest advertiser online today will not be around tomorrow, stating that B Of A is not likely to spend with the fervor its new company has on online advertising.
He continues to say that while Countrywide’s stock plummeted, the company would advertise more on all three of the major online ad competitors Google, Yahoo and Microsoft (or GYM).
In July, Countrywide was the fourth largest online advertiser spending $34.77 million, and in November, the firm took the number two spot with a bill of $57.6 million in online spending according to Nielsen/Netratings. This signals a major hit to be taken and a harsh reality of the recession on hand.
Reader Comments.
No comments yet
Leave a Comment
Article Sponsor
More News
-
Loading ...
Latest News
- Funding in Brief: $10M for Spongecell, $8M for Prolexic February 9th 2012 ADOTAS – Rich media ad company Spongecell has raised $10 million [...] more »
- Google AdMob Axes Minimum Bids, Targeting Fees February 9th 2012 ADOTAS - As of Feb. 15, Google will change its [...] more »
- Infographic: HootSuite Analyses Social Media Impact of Super Bowl Ads February 7th 2012 ADOTAS - So, it’s the Tuesday after the Super Bowl, [...] more »
- Facebook to Serve Mobile Ads in Coming Weeks February 6th 2012 ADOTAS – According to a Financial Times report, Facebook will [...] more »
- Survey: 39 Percent of Mobile Users Responded to Super Bowl Ads Via Mobile February 6th 2012 ADOTAS - During the Super Bowl yesterday, mobile ad network [...] more »
- Sponsormob Leads the Way Into RTB for Mobile February 3rd 2012 ADOTAS – For more than half a decade, Berlin-based tech [...] more »
- Weird Study: Mobile Purchasing While in the Bathroom on the Rise February 3rd 2012 DM CONFIDENTIAL - According to 11mark, three-quarters of Americans with mobile [...] more »
Features
- Attribution Online: Introducers and Influencers and Closers… Oh My! February 9th 2012
- With gTLDs, Global Branding Starts with a Name February 9th 2012
- Rethinking the Online Advertising Ecosystem, Part One: Independent Publishers February 8th 2012
- Case Study: Social Ad Effectiveness February 8th 2012
- Video: “Build an SEO Foundation” Excerpt February 8th 2012
Spotlight
Sponsormob Leads the Way Into RTB for MobileADOTAS – For more than half a decade, Berlin-based tech firm Sponsormob has remained relevant in an industry characterized by [...] more...
Reader Favorites
Classifieds
- PS Technical Writer - SEO Data Analyst
- Interactive Project Manager
- Media Buyer
- PHP Software Engineer (Facebook Platform/Social AP
- SEO/Marketing Internship at Green Education Startu
Recent Comments
- News about Google Adwords issue #412: [...] ads for AdWords to adCenter and align with industry standards, adCenter has chang
- VB: What exactly makes an ad "high quality"?
- Survey: 39 Percent of Mobile Users Responded to Super Bowl Ads Via Mobile - ADOTAS | Mobile2 | Scoop.it: [...] background-position: 50% 0px; background-color:#222222; background-repeat : no-repeat; }
- Mobile Marketing News: [...] Survey: 39 Percent of Mobile Users Responded to Super Bowl Ads Via Mobile Meanwhile,
