Morgan Stanley's analysts have decided that DoubleClick is no longer a media company, according to a report on CBS MarketWatch.com yesterday.
“We believe that DoubleClick should no longer be considered an Internet media stock,” wrote Michael Russell, an analyst at Morgan Stanley, according to the report. “Its media business has not been a significant valuation driver for some time (and we have excluded it from our valuation analysis). While we put DoubleClick into our marketing services group along with Acxiom, Catalina and Valassis, we understand that DoubleClick's management also views itself as a type of technology company, similar to Macromedia, Inktomi, Ariba and Vignette.”
Many in Internet marketing circles have long believed that DoubleClick is no longer a media business. Acquisitions like that of e-mail concern MessageMedia have fueled the perception that Doubleclick is a service and technology firm.
