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DoubleClick 'spare wheel' spins off

Dead-weight throws himself overboard...
Written by Will Sturgeon, Contributor

Dead-weight throws himself overboard...

The head of DoubleClick's media unit, Barry Salzman, has quit as falling revenues in the advertising sector continue to see the unit drag down the rest of the company. Salzman will be replaced by the internal promotion of Jeffrey Silverman. Earlier this week the company's CFO Bruce Dalziel revealed to a JP Morgan conference that the media unit was the only thing holding back DoubleClick and preventing it from enjoying profitability. Salzman's departure and the harsh words of Dalziel have fuelled speculation that DoubleClick may be set to close the media unit, which has already been hit by a swathe of redundancies. Rumours of the loss making unit's imminent demise sparked a sharp increase in DoubleClick's share price, which closed up almost 19 per cent yesterday on the price prior to Dalziel's address at the JP Morgan conference.
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