Recent Stock Photo Industry Press Releases

Jupitermedia Corporation Reports Results for Its Second Quarter Ended June 30, 2008

New York, NY, Aug. 07, 2008. Jupitermedia Corporation (Nasdaq: JUPM) today reported results for the quarter ended June 30, 2008.

Highlights for the second quarter of 2008 include:

• Revenues for the second quarter of 2008 were $35.0 million compared to revenues of $34.7 million for the same period last year.
• Loss per diluted share was $0.09 and included non-cash stock-based compensation expense of $0.07 per diluted share. Excluding this non-cash expense, loss per diluted share was $0.02 and EBITDA was $5.3 million for the second quarter of 2008.

a21, Inc. Signs Non-binding Letter of Intent with Applejack Art Partners, Inc.

Transaction Would Result in Applejack Owning a Majority Stake in a21

Jacksonville, FL, July 22, 2008 [related news here]. a21, Inc. ("a21") (ATWO.OB), a leading online digital content marketplace, today announced that it has entered into a non-binding Letter of Intent (LOI) with Applejack Art Partners, Inc. (Applejack). Pursuant to the LOI, Applejack would purchase all of a21’s outstanding notes (an aggregate principal amount of $18,000,000) from the holders of such notes and also purchase all of the shares of a21 common stock owned by a21’s note holders (an aggregate of approximately 41 million shares). a21 would then exchange approximately 110 million newly issued shares of its common stock with Applejack in satisfaction of approximately $13,000,000 of such notes.

Getty Images Announces Completion of Acquisition by Hellman & Friedman

Seattle, WA, July 02, 2008. Getty Images, Inc. (NYSE:GYI) today announced the completion of its acquisition by an affiliate of the private equity firm Hellman & Friedman. Getty Images announced on February 25, 2008 a definitive agreement to be acquired by an affiliate of Hellman & Friedman in a transaction valued at approximately $2.4 billion.

"We are pleased to have completed this transaction so efficiently and to have rewarded our shareholders with a significant premium in a challenging stock market," said Jonathan Klein, Chief Executive Officer of Getty Images. "Continued strong shareholder support is one of the factors that allowed us to become the leader in all categories of the visual content industry. As we enter the next phase of our history, we look forward to our partnership with Hellman & Friedman."

Getty Images Stockholders Vote to Approve Acquisition by Hellman & Friedman

Seattle, WA, June 20, 2008. Getty Images, Inc. (NYSE:GYI) announced that its stockholders voted at a special meeting today to adopt the merger agreement entered into on February 24, 2008 providing for the acquisition of Getty Images by affiliates of the private equity firm Hellman & Friedman LLC.

Adoption of the merger agreement was subject to two votes. Under Delaware law, the merger agreement was required to be adopted by the holders of a majority of the shares of the company's common stock outstanding on the record date of May 20, 2008. Holders of approximately 75% of these shares voted in favor of the adoption of the merger agreement, representing 96% of the votes cast.

Getty Images Announces Conversion Right for Convertible Debentures

Seattle, WA, June 13, 2008. Getty Images, Inc. (NYSE:GYI), today announced that, in connection with its proposed merger with an affiliate of Hellman & Friedman LLC, holders of its 0.5% Convertible Subordinated Debentures, Series B due 2023 (the "Debentures") will be entitled to convert their Debentures from and after June 15, 2008, until 35 business days after the effective date of the merger, in accordance with the terms of the indenture governing the Debentures.

As previously announced, Getty Images will be holding a special meeting of its stockholders on June 20, 2008, to approve the merger. If the merger is approved at the special meeting and certain other conditions are satisfied, the merger is expected to become effective on June 30, 2008, or within a few weeks thereafter.

Getty Images Announces Special Meeting of Stockholders

Seattle, WA, May 23, 2008. Getty Images, Inc. (NYSE:GYI), the world´s leading creator and distributor of visual content and other digital media, announced today that it has called a special meeting of its stockholders, to be held at 9:00 a.m. Pacific time on Friday, June 20, 2008, at its headquarters at 601 North 34th Street, Seattle, Washington 98103, to consider and vote on the proposal to adopt the previously disclosed Agreement and Plan of Merger, dated as of February 24, 2008, by and among Getty Images, Abe Investment, L.P. and Abe Acquisition Corp. under which Getty Images would be acquired by affiliates of the private equity firm Hellman & Friedman LLC. Stockholders of record as of the close of business on Tuesday, May 20, 2008 will be entitled to vote at the special meeting.

a21 Announces First Quarter 2008 Results

Jacksonville, FL, May 15, 2008. a21, Inc. ("a21") (OTCBB:ATWO), a leading online digital content marketplace, today reported its financial results for the first quarter ended March 31, 2008.

Revenue for the first quarter of 2008 was $5.1 million compared to $6.1 million for the same prior year period. Total cost of sales for the first quarter of 2008 were $2.3 million, or 45% of revenues, compared to $2.3 million, or 38% of revenues, for the same prior year period. The decline in revenue is attributed to challenging market conditions.

Tech Coast Angels Completes Funding of Convertible Note for BrightQube Online Digital Media Marketplace

BrightQube Building Unprecedented Open Market for Easy Viewing, Selection and Purchase of Stock Photography

San Diego, CA, May 13, 2008. San Diego Tech Coast Angels (TCA), a member of the largest angel network in the United States and the number one source of start-up funding in Southern California, announced today that Tech Coast Angels has completed funding of a convertible note in the amount of $650,000 for BrightQube (www.brightqube.com), a new online creative resource that revolutionizes the way the world finds images. San Diego TCA led the seed funding of $200,000 as well as funding the convertible note, along with participation from Pasadena Angels and insiders.

“BrightQube provides a brilliant and unprecedented solution to address a huge gap that exists in the stock photography market,” said Warren Hanselman, San Diego TCA member and lead investor in the BrightQube funding. “We were impressed not only with the company’s business model and the market potential, but also the tremendous experience and passion that its management team brings to the table.”

Jupitermedia Corporation Reports Results For Its First Quarter Ended March 31, 2008

New York, NY, May 08, 2008. Jupitermedia Corporation (Nasdaq: JUPM) today reported results for the quarter ended March 31, 2008.

Highlights for the first quarter of 2008 include:

• Revenues for the first quarter of 2008 were $34.5 million compared to revenues of $34.8 million for the same period last year.
• Loss per diluted share was $0.03 and included non-cash stock-based compensation expense and one-time expenses for accounting and other professional fees related to the non-cash impairment charge and restatement in the fourth quarter of 2007, which totaled $0.02 per diluted share. Excluding these non-cash and one-time charges, loss per diluted share was $0.01 and EBITDA was $6.1 million for the first quarter of 2008.
• Deferred revenues increased from $15.6 million at December 31, 2007 to $16.6 million at March 31, 2008 due primarily to the increase in bookings for our JupiterimagesUnlimited high level subscription offering.

Getty Images Reports Financial Results for the First Quarter of 2008

Seattle, WA, May 01, 2008. Getty Images, Inc. (NYSE:GYI), the world´s leading creator and distributor of visual content and other digital media, today reported results for the first quarter ended March 31, 2008.

Revenue increased 9.7 percent to $233.2 million from $212.7 million in the first quarter of 2007. On a currency neutral basis, growth in the first quarter was 4.2 percent. This increase came mainly from increasing licenses of editorial and micropayment imagery. This increase was partially offset by lower revenues in the company's traditional creative stills business when compared to the prior year. Sequentially, the traditional creative stills business achieved growth of about 1% over the fourth quarter of 2007 on a reported basis and was flat on a currency neutral basis.

As a percentage of revenue, cost of revenue was 28.6 percent, compared to 25.8 percent in the prior year. This increase was due to changes in the composition of the company's royalty-free business, mainly increases in licenses of micropayment imagery that bears higher costs of revenue, as well as the impact of growth in editorial imagery revenue, primarily due to the acquisition of MediaVast in 2007.