Demand Media Completes Rightside Spin-off

(RTTNews) - Demand Media, Inc. (DMD) said Monday that it has completed the separation of Rightside Group, Ltd. from Demand Media in the form of a tax-free dividend involving the distribution of all outstanding shares of Rightside common stock to holders of Demand Media common stock.

Under the terms of the distribution, on August 1, Demand Media shareholders as of the close of business, New York City time on July 25, the record date for the distribution, received one share of Rightside common stock for every five shares of Demand Media common stock held on the record date.

Immediately following the distribution, Demand Media enacted a 1-for-5 reverse stock split of its outstanding and treasury shares of common stock.

Beginning Monday, Demand Media will trade "regular-way" on a post reverse stock split basis on the New York Stock Exchange under the symbol "DMD" and Rightside will trade "regular-way" as a separate publicly traded company on the Nasdaq Global Select Market under the symbol "NAME."