25th Nov 2010 07:00
Media Corporation Plc (AIM: MDC) ("Media Corp" or the "Group") Sale of Gambling.com to fund acquisition opportunities following approaches from online gaming companies The Board of Media Corp, a leading advertising network and online gaming group, ispleased to announce that it has signed an exclusive contract with Sedo GmbH (Sedo)for the marketing and sale of www.gambling.com, the Group's wholly owned online gaminginformation portal. Following a number of recent approaches from online gaming companies looking to acquirewww.gambling.com, Media Corp has appointed Sedo, the World's leading domain marketplace,to commence a formal process for the sale of www.gambling.com. Whilst the Group has received a number of very significant indicative offers forwww.gambling.com, the Board believes that a formal auction process with the World'sleading domain name broker will achieve the best possible outcome and valuation asSedo is uniquely positioned to present the domain to global gambling brands and otherqualified buyers. With over one million registered members, Sedo is the global leader in domain marketing,and conducts its trade in 21 languages. With headquarters in Cologne, London andBoston (Massachusetts, USA), Sedo services customers in over 200 countries. Sedorecently completed the sale of a comparable top level domain for $13 million andthe Board would anticipate that Gambling.com could also achieve an attractive valuationrelative to the current market capitalisation of the Group, considering the globalappeal and substantial revenues generated by online gaming. Justin Drummond, CEO, Media Corporation plc, commented: "Whilst the Group has significant cash reserves, we have recently seen a number ofexciting acquisition opportunities in the online gambling and online advertisingspace. The successful sale of www.gambling.com will give the Group significant financialresources to pursue these acquisition opportunities." Tim Schumacher, CEO, Sedo Holding AG, commented: "We are very pleased to have been chosen as the exclusive broker for the sale ofGambling.com. A defining domain name like this can enable a brand to own their verticaland would be a fantastic addition to any gaming or gambling business. Gambling.comis a safe bet; it has traffic, branding and instant memorability! Its new owner issure to win big when it comes to securing new business, enjoying top SEO resultsand rolling out their brand online." --ENDS-- Contacts: Media Corporation Plc Tel: +44 20 7618 9000 Justin Drummond - CEO Nilesh Jagatia - Group Finance Director Northland Capital Partners limited Tel: + 44 20 7492 4750 Luke Cairns / Rod Venables (Nomad) Katie Shelton (Joint Broker) XCAP Securities John Grant / Karen Kelly (Joint Broker) Tel: + 44 207 101 7070 Bishopsgate Communications Tel: + 44 20 7562 3350 Gemma O'Hara / Siobhra Murphy Notes to editors: Quoted on the AIM market of the London Stock Exchange, Media Corp is a leading mediaand online gaming group. The Group has two principal divisions: Advertising Network - Formed in 1996, Eyeconomy specialises in mass reach campaignsto up to 50 Million unique consumers per month via its own proprietary ad-servingand tracking technology for clients including AOL, Dell and American Express. www.eyeconomy.co.uk Website Publishing - Media Corp has a diversified publishing division specialisingin online media and gaming. The impressive portfolio of websites includes a numberof market leading websites, such as www.purple-lounge.com, www.gambling.com, www.onthebox.com,www.sport.co.uk, www.creditcardexpert.co.uk and www.flightcomparison.co.uk. Further information can be found on the company's website, at www.mediacorpplc.comRelated Shares:
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