Catena Media has completed its strategic review executing a divestment of legacy media assets generating its business €76m in proceeds, to enable significant debt repayments The announcement was declared separately to Catena Q3 trading update, which saw the Stockholm-listed media publisher reveal a 28% decline in Q3 revenues to €16m (Q32022: €22m). The continued revenue decline reflects the “transition of …
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Michael Daly stands by North America as growth child of Catena Media
Following a difficult trading period for Catena Media CEO, Michael Daly, remained optimistic in the group’s ability to reach an ‘achievable but challenging in goal’ in North America. Following a series of transformations, North America, particularly in the last year, has been the main cash cow for the Stockholm-listed media publisher. Yet, momentum was interrupted during Q2, with the firm’s trading …
Read More »Catena hits wall in North America amid UK and Aus sell-off
Catena Media encountered several difficulties across the geographic breadth of its business during Q2 trading, with the firm’s North American revenue dipping as it embarked on major changes to its European operation. The igaming media publisher reported group-wide revenue from continuing operations of €17m, a drop off of 16% on €20m recorded in Q2 2022. Adjusted EBITDA, meanwhile, fell 60% …
Read More »Catena confirms Per Widerström boardroom exit
Catena Media Plc has notified investors that Per Widerström has ended his tenure as a Corporate Director of the Stockholm-listed igaming media publisher. The resignation follows Widerström accepting the position to become the new Group CEO of 888 Holdings, commencing from 16 October onwards. Widerström, the former Chief Executive of CEE gambling group Fortuna Entertainment, has served as a Corporate …
Read More »Catena sells UK & AUS sportsbook domains for €6m
Catena Media Plc has accelerated its corporate reorganisation by securing an agreement to sell its UK and Australia sports betting brands to Moneta Communications Ltd for €6m. The agreement will see Catena sell the assets of Squawka.com and GG.co.uk, in addition to all shares in the group’s wholly-owned Australian subsidiary. “The sale marks a further step forward in refocusing the …
Read More »Catena launches new SEK 55m buyback programme
The board of Catena Media Plc has authorised the company to proceed with a new SEK 55m (€4.8m) share buyback programme. The transaction was ratified at an extraordinary general meeting held on 12 July 2023, following an initial resolution at the annual general meeting on 24 May 2023. Catena explained that “the purpose of the programme is to deliver shareholder …
Read More »Catena Media advance North Carolina plans after sports betting bill signed
Catena Media is stepping up its preparations for the launch of online and mobile sports betting in North Carolina following confirmation of legalisation last week. Governor Roy Cooper put pen to paper on HB347 to officially legalise online sports betting, which could launch on 8 January, 2024. The NASDAQ Stockholm-listed affiliate firm will deploy its national sports betting brands Lineups …
Read More »Catena maintains long-term vision amid slow 2023 start
Catena Media Plc maintains confidence in its corporate reorganisation and long term growth targets, despite a difficult start to year trading, dragged by underperforming US results. Publishing its Q1 2023 trading update, total group revenue from continuing operations stood at €35m, down 5% on corresponding 2022 results of €37m. Period trading saw Catena’s North American unit impacted by a 2% …
Read More »Better Collective lauds new business profile as Q1 cash results jump x3
Better Collective AS has opened FY2023 trading with a further consecutive recording-breaking quarter, underlining the success of its strategic business shift and M&A strategy. The results of Q1 2023 have been deemed as a “high-water mark in its financial performance” as group revenues total €88m, up 30% on corresponding 2021 results of €67m. “We’ve achieved another record-breaking quarter. The performance …
Read More »Erik Edeen named Catena interim CFO amid asset sale speculation
Catena Media has confirmed Erik Edeen as interim Chief Financial Officer (CFO), replacing the outgoing Peter Messner and marking his second tenure in the role. Edeen first served as Catena CFO between 2019 and 2020, and has acquired 16 years experience of financial management with both private and public corporations such as ICA Gruppen AB and Investor AB. A graduate …
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