13th Apr 2007 07:00
Media Corporation plc ("Media Corp" or the "Group") Further to our announcement on 17 November 2006 regarding the impact of changesin the regulatory environment for online gaming, Media Corp, a leading internetadvertising Group, provides an update on current trading. As previously stated the Board recognised that Search Focus Limited, the Group'svertical search business which operates a gaming related search engine, would beadversely impacted by the changes in the regulatory environment. The Group'sfirst quarter results for its search marketing business were materially withinthe parameters of the Group's trading update of 17 November 2006. The Board has continued to monitor the search business closely and, as a resultof reduced marketing budgets from key advertisers, search revenues havecontinued to decline during the second quarter, running at approximately 70%below the prior year's average. Trading in our publishing and advertisingnetwork businesses are in line with the Board's expectations. The Board believesthat search revenues have now stabilised and have started to recover as weimplement our ongoing strategy of diversifying the business into other verticalmarkets. Ends Enquiries: Media Corporation plc Justin Drummond, Chief Executive +44 (0)20 7618 9000 Paul Tuson, Finance Director Canaccord Adams Limited Chris Bowman, Vice President +44 (0)20 7050 6500 Holborn PR Trevor Phillips, Director +44 (0)20 7929 5599 Notes to editors: Listed on the AIM market of the London Stock Exchange, Media Corp, is a leadinginternet media and advertising Company focused on search, web-site publishingand media sales. The company has three principal divisions: Search Technology - The vertical search specialists building sector specificsearch engines for advertisers to communicate in a highly targeted environmentwith their particular audience. All of our Search and Media products are poweredby our own high performance proprietary technology. www.searchfocus.co.uk. Publishing - Media Corp has a diverse publishing division specialising in onlinemedia. Our impressive list of websites includes a number of market leading sitesincluding www.creditcardexpert.co.uk, www.onthebox.com, www.freedeal.co.uk andwww.flightcomparison.co.uk. Advertising Network - Formed in 1996, Eyeconomy specialises in mass reachcampaigns to over 30 Million unique consumers via its own proprietary ad-servingand tracking technology for clients including AOL, Dell and American Express.www.eyeconomy.co.uk. www.mediacorpplc.com Copyright Business Wire 2007Related Shares:
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