InvestorsObserver
×
News Home

J2 Global, Inc. (JCOM) Stock Rises After Board Approves Separation Into Two Independent Publicly Traded Companies

Wednesday, September 22, 2021 10:47 AM | Kyle Depontes

Mentioned in this article

J2 Global, Inc. (JCOM) Stock Rises After Board Approves Separation Into Two Independent Publicly Traded Companies

What is going on with JCOM?

J2 Global, Inc. (JCOM), announced today that its Board of Directors approved its previously announced separation into two independent publicly traded companies – J2 Global, Inc., which will be known as Ziff Davis, Inc. and Consensus Cloud Solutions, Inc.

The separation will occur by means of a pro-rata distribution to J2 Global stockholders of 80.1% of the outstanding shares of Consensus.

Each J2 Global stockholder will receive one share of Consensus common stock for every three shares of J2 Global common stock held as of October 1, 2021. No fractional shares of Consensus will be issued. Stockholders will receive cash in lieu of fractional shares.

Shares of JCOM increased 2.18% to $134.26 as of Wednesday at 10:34 am.

What does this mean for J2 Global?

After the separation, Ziff Davis will continue to build its portfolio of digital media and internet brands with a focus on technology, shopping, entertainment, health, cybersecurity, and martech. Consensus will continue to be a leading provider of secure data delivery for the healthcare sector and other highly regulated industries.

“As two leading independent public companies with distinct management teams, capital structures, and strategic focus, Ziff Davis and Consensus will be very well positioned to create enduring value for shareholders and customers,” said Richard Ressler, Chairman of J2 Global’s Board of Directors.

Consensus shares will trade on the Nasdaq under the symbol CCSIV as of September 30, 2021, and will change to their permanent symbol, "CCSI" as of October 8, 2021. J2 Global, to be renamed Ziff Davis, Inc., will trade on Nasdaq under the ticker symbol "ZD".

The separation is expected to be completed on October 7, 2021.

Long-Term Technical Rank - 78

JCOM has a Long-Term Technical Rank of 78. Find out what this means to you and get the rest of the rankings on JCOM!

J2 Global Inc is a provider of Internet services. The firm operates in two segments: business cloud services, which focuses on selling cloud-based voice and fox products to businesses and individuals; and digital media, which consists of web properties including PCMag.com, IGN.com, Speedtest.net, and AskMen.com. Business cloud services generates revenue from subscription and usage fees, and IP licensing fees. The digital media segment generates revenue from advertising, performance marketing, and license fees. A majority of the firm's revenue is generated in the United States, and the rest from Canada, Ireland, and other countries.

You May Also Like

Get the InvestorsObserver App

InvestorsObserver App
iOS App Android App