21st Mar 2025 17:19
(Alliance News) - Mobile Streams PLC on Thursday said it has agreed to buy up to 90% of Capital Media Sports SA, the Mexican firm that owns major heritage sports media publication Estadio.
The London-based mobile gaming content provider currently owns a 10% stake in the Capital Media Group Ltd business, following an investment in December 2023. Capital Media Group is one of the largest media publishers in Mexico.
Mobile Streams has agreed to purchase an additional 12.5% interest in Capital Media immediately, with a call option to acquire a further 67.5% stake. If called, this would bring Mobile Stream's total holding to 90%.
The remaining 10% would be retained by Capital Media.
Under the terms of the deal, the entire share capital of Capital Media Sports is valued at USD3 million for the 12.50% purchase, and at USD5 million if the call option is exercised.
"We are extremely pleased to have agreed terms to increase our investment with the option of taking control of Capital Media Sports and through it the Estadio media brand," said Mobile Streams Chief Executive Officer Mark Epstein. "We have big plans to grow both the brand and the betting business, and this deal gives us this opportunity whilst we continue to work very closely with our partners at Capital Media."
Capital Media Sports also owns 18.08% of Mexican betting company Bet, in which Mobile Streams already owns a 25.87% interest. The acquisition gives Mobile Streams a total holding of 29.94% in the betting firm, which would be brought to a total of 42.12% if the call option was exercised.
Shares in Mobile Streams closed down 1.6% at 0.51 pence in London on Friday. The stock has multiplied from 0.040p over the past twelve months.
By Emily Parsons, Alliance News reporter
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