MEDIA CORP ACQUISITION

4/17/2012 :  MEDIA CORP ACQUISITION (Update)
 
Advanced acquisition discussions of Gaming Media Group
 
Media Corporation Plc's (Media Corp) suspension of trading on AIM follows an admission of advanced acquisition discussions of online gaming firm Gaming Media Group Limited (GMG), a company statement revealed.
 
While a final deal is still a way off due to Media Corp having yet to commence a formal due diligence on GMG, the acquisition would be deemed a reverse takeover under the AIM Rules for Companies and would be subject to shareholder approval.
 
GMG owns The Poker Channel, a TV channel dedicated to gaming and betting, along with online gaming website PokerHeaven.com.  The company recently hooked up with Sports Betting Tech for the launch of Mermaid Bet's Sportsbook in the newly regulated Danish market.