Intermix Media Inc. said Tuesday it has reached an agreement in principle with the New York State Attorney General to pay $7.5 million over three years, and permanently discontinue distribution of its adware, redirect and toolbar programs.
The Los Angeles-based company previously and voluntarily ceased distributing the software and has admitted no wrongdoing.
In addition, Intermix has:
*Created the position of chief privacy officer and is recruiting and evaluating final candidates.
*Joined the Network Advertising Initiative (NAI), which has worked with the Federal Trade Commission and U.S. Department of Commerce to develop a self-regulatory regime to protect consumers.
Intermix reported a net loss of $409,000 for the fourth quarter, an improvement over a net loss of $4.4 million last year.
The company reported revenue of $24.1 million the quarter ended March 31, up 68% over $14.4 million last year.
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