SBC News XLMedia weighs up sale of finance unit

XLMedia weighs up sale of finance unit

The board of London AIM media firm XLMedia Plc has disclosed that it is exploring options to sell all assets its finance unit holds.   

The sale of finance and FX domains forms part of XLMedia’s ongoing business reorganisation, in which the company aims to refocus on the growth of its sports betting and igaming content.

XLMedia communicated: “These actions reflect the company’s decision to prioritise resource allocation to its core activities and remain focused on fully capturing the North America market opportunity in sports and gaming while also rebuilding its European sports and gaming operations to seek maximum value for shareholders.”

H1 Interim trading results surpassed group expectations as XLMedia declared group earnings of $10m achieved from improved revenues of $45m.  

The improved performance was attributed to a ‘stabilised igaming portfolio’, in which the company has consolidated its affiliate network to seven high-performance domains.   

The business reorganisation is being led by the new leadership duo of Chief Executive David King and CFO Caroline Ackroyd, who joined the company during H2 trading.

The firm’s leadership continues to prioritise North American media opportunities, in which it expanded its existing partnership with state news publisher Advance Local in September.

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