30th Jan 2015 14:44
LONDON (Alliance News) - Daily Mail and General Trust PLC Friday said its consumer business, DMG Media, has acquired the news and entertainment website Elite Daily.
Elite Daily has over 70 million unique browsers per month and an average daily audience of 4 million, primarily in the US. Roughly 70% of its audience is aged between 18 and 34 years old, and it has a large social media presence, according to Daily Mail.
Daily Mail said the Elite Daily business will continue to operate as a separate website but the acquisition is expected to strengthen MailOnline's offering to US-based advertising buyers due to the increased scale and audience reach. Elite Daily generated USD5 million in revenue in 2014.
It didn't say how much is it paying for the deal.
Daily Mail and General Trust shares were up 1.1% at 859.50 pence Friday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
DMGT.L