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INVESTOR RELATIONS - Press Release
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|Dolan Media Company Announces Plans to Rename Company|
MINNEAPOLIS, Mar 23, 2010 (BUSINESS WIRE) -- Dolan Media Company (NYSE: DM), a leading provider of professional services and business information to the legal, financial and real estate sectors in the United States, announced today that it plans to seek shareholder approval of a new company name: The Dolan Company.
The proposal is included in stockholder proxy materials filed on Schedule 14A with the Securities and Exchange Commission today in preparation for the company's annual meeting of stockholders on May 26. No change is planned for the company's stock symbol, DM.
"This planned corporate name change reflects our rapid evolution in the past few years," explained James P. Dolan, the company's chairman, president and chief executive officer. "The majority of our business now comes from business services providing outsourced back-office services to professionals," he said.
"While our Business Information Division remains an important part of our business, and the synergies between our two divisions are important, we also acknowledge that our legacy name, Dolan Media Company, no longer fully and accurately describes us," he said.
He noted the new name doesn't indicate a change in future strategy so much as it describes changes that already have occurred.
In 2009, the Professional Services Division generated 65% of the company's revenues. In 2008, it generated 56% of the company's revenues.
Dolan also said he expected the company to continue investing aggressively for growth in all areas of operations.
The name change would amend the company's certificate of incorporation, which requires stockholder approval.
Dolan Media Company is a leading provider of professional services and business information to the legal, financial and real estate sectors. Its Professional Services Division provides specialized outsourced services to the legal profession through its subsidiaries, NDeX, DiscoverReady and Counsel Press. NDeX is a leading provider of mortgage default processing services in the United States. DiscoverReady provides outsourced discovery management and document review services to major companies and their counsel. Counsel Press is the nation's largest provider of appellate services to the legal community. The company's Business Information Division publishes business journals, court and commercial media and other highly focused information products and services, operates web sites and produces events for targeted legal and professional audiences in each of the 21 geographic markets that it serves across the United States.
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SOURCE: Dolan Media Company
Dolan Media Company