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Media Corp Directorate change and sells off asset

Wednesday February 6,2013 : HRMC INSURANCE LIABILITY FOR MEDIA CORP (Update)
 
Directorate change and sells off publishing asset
 
Media Corporation PLC, the owner of the now defunct Purple Lounge, has announced the resignation from the board of Mark Butt following the placing into administration of Eyeconomy Ltd .
 
The firm also said it had sold off its publishing asset onthebox.com for GBP 75 000 as it didn’t consider it a core asset and one that would have needed further investment for growth.  Media Corp’s directors felt such investment would be better spent on the development and impending launch of its Intabet platform.
 
The board has its work cut out for it as Media Corp deals with Her Majesty's Revenue and Customs (HRMC) following the discovery of a potential liability with regard to previously unpaid National Insurance.
 
The amount outstanding covers the period prior to 2010 during which time former directors (and others), of the Company were paid by the Company as consultants to the Group where they should have in fact been treated as employees and the associated National Insurance paid by both the employer and employee to HMRC.
 
The full extent of the liability is unknown at present but the company said it is working together with the HRMC to set up a workable payment programme.
 
Phil Jackson, Chairman, commented: "I am very pleased to have realised some cash out of an underperforming asset like Onthebox and the funds will help us achieve our goal of launching the Intabet platform.
 
“To this end we are in discussions with a number of parties who have shown an interest to licence part of our technology which would enable us to start generating revenues from our technology and allow us to start to move forward despite the continued legacy issues from the previous management such as that with HMRC."



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Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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