Digitalbox PLC Completion of Acquisition of Assets (0298L)
01 September 2023 - 8:00AM
UK Regulatory
TIDMDBOX
RNS Number : 0298L
Digitalbox PLC
01 September 2023
1 September 2023
Digitalbox plc
("Digitalbox" or the "Company")
Completion of Acquisition of Assets from Media Chain Group
Limited
Digitalbox plc (AIM: DBOX), the mobile-first digital media
business, which owns Entertainment Daily, The Daily Mash, The Tab,
and The Poke is pleased to announce that, further to its
announcement on 1 August 2023, it has completed the acquisition of
certain digital assets of 99 Problems, The Life Network Shopping
and 90's Life from Media Chain Group Limited (part of "Social Chain
AG") (the "Acquisition"). The final agreement resulted in the 99
Problems Instagram page and 90's Life Facebook page forming part of
the Acquisition and Student Problems removed.
The Acquisition was completed at improved terms for a total of
$600,000 in cash without the issue of the shares as previously
stated. The Acquisition is being undertaken via Digitalbox
Publishing Limited, which is wholly owned by the Company. The deal
is expected to be earnings enhancing as the engagement is built
with the 20m followers Digitalbox now has within the social media
channels.
END
Market abuse regulation: This announcement contains inside
information for the purposes of Article 7 of Regulation (EU) No
596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR") . The person
responsible for arranging for the release of this announcement on
behalf of the Company is James Carter, Chief Executive Officer.
Enquiries:
Digitalbox c/o SEC Newgate
James Carter, CEO
Panmure Gordon Tel: 020 7886 2500
(Nominated Adviser, Financial Adviser
& Joint Broker )
James Sinclair-Ford / Ivo Macdonald (Corporate
Advisory)
Rupert Dearden (Corporate Broking)
Leander Capital Partners (Joint Broker) Tel: 020 7195 1400
Alex Davies / Hugh Kingsmill Moore
SEC Newgate (Financial Communications) Tel: 07970 664807
Robin Tozer / Molly Gretton digitalbox@secnewgate.co.uk
About Digitalbox plc
Based in the UK, Digitalbox is a 'pure-play' digital media
business with the aim of profitable publishing at scale on mobile
platforms.
Digitalbox operates the trading brands of "Entertainment Daily",
"The Daily Mash", "The Tab", and "The Poke".
Entertainment Daily produces and publishes online UK
entertainment news covering TV, showbiz and celebrity news. The
Daily Mash produces and publishes satirical news content. The Tab
is the UK's biggest youth culture site fuelled by students. The
Poke expertly curates and editorialises the funniest content from
around the web and social media.
Digitalbox primarily generates revenue from the sale of
advertising in and around the content it publishes. The Company's
optimisation for mobile enables it to achieve revenues per session
significantly ahead of market norms for publishers on mobile.
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END
ACQUAVBROKUWOAR
(END) Dow Jones Newswires
September 01, 2023 02:00 ET (06:00 GMT)
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