DoubleClick, 24/7 shares jump amid merger rumors

Shares of DoubleClick Inc. and 24/7 Media Inc. rose Wednesday amid revived speculation about a possible merger between the two Internet advertising sales networks. DoubleClick shares climbed 6 percent, or 8-1/4, to 145, while 24/7 shares jumped 14.7 percent, or 6-9/16, to 51-3/16, both on the Nasdaq stock market. The consolidation has largely been spearheaded by venture capital company CMGI Inc., which in September said it was spending $1.25 billion to acquire three advertising networks: Flycast Communications Corp., AdKnowledge and AdForce Inc. The DoubleClick and 24/7 speculation is "based on some of the recent acquisitions by CMGI and thoughts that there will be continued consolidation in the industry," said Daniel MacKeigan, an analyst with Friedman Billings Ramsey & Co. "The perception is that you either have to be with CMGI or DoubleClick, or you're going to be without a chair when the music stops," he said. -- Reuters