Digitalbox says Media Chain asset acquisition would put it in a "very strong position"
August 07, 2023 at 08:00 am EDT
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Digitalbox PLC (AIM:DBOX) CEO James Carter speaks to Thomas Warner from Proactive after the digital media business announced an agreement to potentially acquire assets from Media Chain, which operates popular web social brands like "99 Problems," "The Life Shopping Network," and "Student Problems." The acquisition is currently in a testing or licensing phase, lasting until November 30th, during which Digital Box will assess the potential benefits of working with these assets and their follower bases to maximise engagement and extend their audience reach. Carter says he sees significant gains from the prospective acquisition. The addition of the new assets would increase Digital Box's Facebook followers from around 8 million to approximately 20 million, which could result in a substantial uplift in audience delivery across their brands. Notably, the acquisition offers audience fit opportunities that align well with their existing brands. Regarding the timeline for completing the deal, James expects it to be within a range of one to four months, with the goal of finalising it as soon as possible. James also discusses market conditions, saying that a challenging environment has persisted into the first half of 2023. However, Digital Box has been trading in line with its forecasts, adapting to the market conditions and working towards their projected targets.
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Proactive UK Ltd
+44 20 7989 0813
uk@proactiveinvestors.com
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Digitalbox plc is a United Kingdom-based holding company. Its principal activities are the publication of consumer media through the digital mobile channel, with revenues derived from programmatic advertising. It owns and operates four trading brands, including Entertainment Daily, The Daily Mash, The Tab and The Poke. Entertainment Daily produces and publishes online United Kingdom entertainment news covering TV, showbiz and celebrities. The Tab is the United Kingdom student and youth culture site fueled by a network of 30 local university sites. The Daily Mash delivers online satirical news articles in its own distinctive style. The Poke provides an antidote to the daily grind, delivering fast-turnaround topical distractions, hand-picking the funniest stuff on the Web. Its Graphene Ad Stack enables it to on-board new partners to its sites and reduces friction, driving optimal commercial performance. Its subsidiary, Digitalbox Publishing Limited, owns Amazon Alexa TV Guide skill.
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