Thursday, October 23, 2008


(New York, NY - October 23, 2008) -- Jupitermedia Corporation (Nasdaq: JUPM) ("Jupitermedia") announced today that it has entered into a definitive stock purchase agreement to sell its Online Images business to Getty Images, Inc. for an aggregate purchase price of $96 million in cash. Under the terms of and subject to the conditions set forth in the stock purchase agreement, Jupitermedia has agreed to sell all of the outstanding capital stock of Jupiterimages Corporation ("Jupiterimages"), an Arizona corporation and a wholly owned subsidiary, to Getty Images, Inc.

The Board of Directors of Jupitermedia has approved the transaction and resolved to recommend that JupitermediaÕs stockholders approve the transaction. Completion of the transaction is subject to approval by Jupitermedia's stockholders, regulatory approval and other customary closing conditions. In addition, Alan Meckler, Jupitermedia's Chairman, Chief Executive Officer and a significant stockholder, and certain other stockholders, who, with Mr. Meckler, collectively hold approximately 35.9% of Jupitermedia's outstanding stock, have entered into definitive support agreements with Getty Images, Inc. to vote in favor of the transaction. The transaction is not subject to a financing condition. In connection with the transaction, Jupitermedia will retain ownership of its Peoria, Illinois building and property and lease the facility to Getty Images, Inc. Jupitermedia expects to incur a non-cash loss of approximately $95 million upon the closing of the transaction.

Following the completion of the sale of Jupiterimages to Getty Images, Inc, Jupitermedia will continue to operate its Online media business, which consists of five distinct networks: and for IT and business professionals; for developers; and and for media and creative professionals.

"We believe that this transaction will be beneficial to Jupitermedia and its stockholders, both in the near term and the long run, as it will allow Jupitermedia to pay off all of its bank debt. Upon closing of the transaction, we will continue focus on the further development and growth of our Online Media division," stated Alan Meckler.

Merrill Lynch & Co. is acting as financial advisor to Jupitermedia and Willkie Farr & Gallagher LLP is serving as legal advisor to Jupitermedia.

Important Additional Information Regarding the Stock Purchase Agreement will be filed with the SEC

This communication is not a solicitation of a proxy from any security holder of Jupitermedia. In connection with the stock purchase agreement, Jupitermedia Corporation will file with the U.S. Securities and Exchange Commission a preliminary proxy statement and a definitive proxy statement. THE PROXY STATEMENT WILL BE SENT TO JUPITERMEDIA CORPORATION STOCKHOLDERS, WHO ARE URGED TO READ THE PROXY STATEMENT AND OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION AND THE PARTIES TO THE STOCK PURCHASE AGREEMENT. Jupitermedia Corporation investors and security holders may obtain free copies of these documents (when they are available) and other documents filed with the Securities and Exchange Commission at its web site at In addition, investors and security holders may obtain free copies of the documents filed with the Securities and Exchange Commission by going to Jupitermedia CorporationÕs Investors page on its corporate website at

Jupitermedia Corporation and its directors and officers may be deemed to be participants in the solicitation of proxies from the stockholders of Jupitermedia Corporation in connection with the stock purchase agreement and the proposed transaction. Information about Jupitermedia Corporation and its directors and officers can be found in its proxy statements on Schedule 14A and annual reports on Form 10-K filed with the Securities and Exchange Commission, as well as on Jupitermedia Corporation's Investors page on its corporate website at Additional information regarding the interests of those persons may be obtained by reading the proxy statement for the proposed transaction when it becomes available.

Source: Jupitermdia

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