11th Jan 2024 13:50
(Alliance News) - XLMedia PLC on Thursday said it has agreed a two-year contract extension with its long-term partner Mile High Sports.
The London-based global digital media company said the deal will continue the partnership between the two firms, which was originally agreed in 2020.
Mile High Sports is a Colorado-based professional sports-focused publisher, with"high quality multi-media content and a highly engaged sports betting audience".
The firm said the extension will solidify its media partnership business as an industry leader.
The company also noted that North Carolina is intending to launch online sports betting prior to the 2024 March Madness NCAA basketball tournament.
It said its North Carolina media partner WRAL.com is performing well in neighbouring states that have legalised sports betting, and is well positioned ahead of legalisation in the state.
Chief Executive David King said: "We continue to build our successful Media Partnership Business. The extension with Mile High Sports is further proof of the Business' ability to partner with valued publishers.
"Our partnership with WRAL.com positions us well to drive new revenue in legal Southern US states whilst also enabling us to reach North Carolina's large sports fan base in preparation for the upcoming launch of sports betting."
XLMedia shares rose 4.2% to 1.07 pence each on Thursday afternoon in London.
By Harvey Dorset, Alliance News reporter
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