Sport.co.uk Sold

Posted on 5/19/11

Removes another loss making asset from the business
 
Online gaming and media group, Media Corporation PLC (Media Corp) has announced the sale of another of its domains Sport.co.uk in a deal worth GBP 200 000.
 
The acquisition of Sport.co.uk to an unidentified buyer comprises of an upfront payment of GBP135 000 and further payment of GBP65 000 over the next 12 months.
 
The firms online advertising division, Eyeconomy Ltd, will continue to manage the sales function for the website going forward on a revenue sharing basis.
 
Justin Drummond, CEO, Media Corporation said: “The sale of Sport.co.uk brings another boost to cash reserves and removes another loss making asset from our diverse online publishing business. The Group’s trading performance will continue to improve as we sell loss making assets and re-focus the Group on our profitable and fast growing businesses.”
 
Media Corp sold its gambling.com domain for $2.5 million in April this year to UK affiliate marketing company, KAX Media who runs the WSN.com sports betting portal..