MEDIA CORP SELLS ANOTHER DOMAIN

16th May, 2011 :: 15:11:48

Source: Casinos Online

Removes another loss making asset from the business

Online gaming & 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 & 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: âEURњThe sale of Sport.co.uk brings another boost to cash reserves & removes another loss making asset from our diverse online publishing business. The GroupâEUR™s trading performance will continue to improve as we sell loss making assets & re-focus the Group on our profitable & fast growing businesses.âEURќ

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..

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