16th Nov 2021 11:33
DCD Media PLC - London-based TV distribution and production company - Agrees to sell NBD Holdings Ltd to 108 Media Ltd for up to GBP4.7 million in cash. The sale, if approved, will result in the divestment of substantially all of the company's existing business, assets and trade liabilities.
DCD Media explains that there are market risks in the current operating model of the company, meaning that additional third-party funding is required to grow the business. Also, the company's largest shareholder, Timeweave Ltd, has indicated that it is unwilling to further fund the business, it says. Therefore, the sale presents an attractive opportunity for DCD to realise value and secure, in 108 Media, an owner that can provide the support required to allow the business to grow.
Current stock price: 213.00 pence, up 15%
By Evelina Grecenko; [email protected]
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