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On 1 September 2023, Digitalbox plc completed the acquisition of certain digital assets from Media Chain Group Limited via its wholly-owned subsidiary, Digitalbox Publishing Limited. The final agreement included the 99 Problems Instagram page and 90's Life Facebook page, with Student Problems removed from the original scope. The transaction was completed for a total of $600,000 in cash, without the issue of shares.
| Date | 1 Sept 2023 |
| Time | 07:00:05 |
| Category | Acquisitions and alliances |
| ID | 0298L |
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.
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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:
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Digitalbox |
c/o SEC Newgate |
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James Carter, CEO |
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Panmure Gordon (Nominated Adviser, Financial Adviser & Joint Broker) |
Tel: 020 7886 2500 |
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James Sinclair-Ford / Ivo Macdonald (Corporate Advisory) |
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Rupert Dearden (Corporate Broking) |
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Leander Capital Partners (Joint Broker) |
Tel: 020 7195 1400 |
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Alex Davies / Hugh Kingsmill Moore |
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SEC Newgate (Financial Communications) |
Tel: 07970 664807 |
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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.