Home > Marketing & affiliates > XLMedia offloads personal finance assets for $1.3m
Affiliate group XLMedia has sold a range of personal finance assets as part of its strategy to exit non-core activities.
Websites and domains including Investor Junkie, Greedy Rates and Young and Thifty were sold to MPD Media for $1.3m (£1.1m/€1.2m).
The assets were owned by XLMedia Publishing Limited and Webpals Systems SC Limited, subsidiaries of XLMedia. All proceeds from the sales will be used to support day-to-day operations of the business.
XLMedia said this is in line with a strategy to focus on its sports and gaming business, expand its North American sports footprint, as well as refine and develop its European sports portfolio and gaming assets in certain markets.
The affiliate had announced in December it was exploring the potential sale of its personal finance division as part of a restructuring process.
The group added that the process to sell its remaining personal finance assets is at an advanced stage, but there is no certainty that transactions will complete.
Schneps Media deal
In related news, XLMedia signed an extension with Schneps Media to remain the exclusive provider of sports betting and igaming content to amNewYork.
Under the three-year deal, XLMedia will supply sports betting content while also managing commercial deals with regulated sportsbooks. XLMedia will also establish an igaming content hub on amNY.com.
The multi-year extension follows an initial two-year deal, with XLMedia saying the extension will support its objective to continue to expand its North America footprint and grow sports betting and gaming revenue.
“We are pleased to be able build upon our sports betting success with amNY.com in the years to come and to extend our partnership to include igaming in what we believe will be another important revenue opportunity for both businesses,” XLMedia chief executive David King said.
“In line with our stated strategy, this agreement furthers our efforts to expand our North America footprint and drive igaming in select markets like the US to capitalise on the high-margin gaming vertical.”
Schneps Media chief executive Joshua Schneps added: “We are delighted with the success from our partnership over the last two years and thrilled to continue in the years to come. The collaboration and commitment from the XLMedia team has been exceptional.”
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