One Day Later: Direct Media, Paradysz Matera Call Off MergerJust one day after saying the proposed merger between Direct Media Inc. and Paradysz Matera would move forward, Direct Media chairman/founder David W. Florence said yesterday that the merger has been called off.
"It's 180 degrees from what I told you yesterday but what I told you yesterday was the truth at the time," Florence said.
The decision was the result of a discussion yesterday between Florence and Paradysz Matera founder/CEO Chris Paradysz. In the six months since the October announcement, little progress was made.
"We had a long, long talk today, and we pretty much decided that we're both just too busy doing our own thing and we keep pushing this on the back burner," Florence said.
Both sides agreed that it was better to officially call the merger off and possibly revisit it later, he said.
Direct Media's offices are in Greenwich, CT. Paradysz is headquartered in New York.