LONDON, UK: XLMedia (AIM: XLM), a prominent global digital media company, has announced the successful sale of the domain and website, MoneyUnder30, for a sum of $675,000.
This transaction marks the final step in the divestment of the company’s entire Personal Finance asset portfolio. In combination with the previous sale of DoughRoller and other previously announced disposals, the total cash consideration generated from the disposals amounts to $2.05 million. The funds obtained from these transactions will be utilized for the day-to-day operations of the business.
The sale of the Personal Finance assets aligns with XLMedia’s strategic focus on exiting non-core activities and concentrating on its Sports and Gaming divisions. The company is actively expanding its North American Sports footprint while refining and developing its EU Sports portfolio and Gaming assets in selected markets, including the United States.
In the fiscal year ending December 31, 2022, the Personal Finance division’s assets generated revenues of $1.9 million but incurred an EBITDA loss of $1.3 million.
It is important to note that the Personal Finance assets, owned by XLMedia Publishing Limited and Webpals Systems SC Limited, subsidiaries of XLMedia plc, were excluded from continuing operations as indicated in the company’s results for the year ending December 31, 2022. Therefore, the disposal of these assets has no impact on earnings in the current financial year.
With the sale of MoneyUnder30 to Northern Lights Media, the entire sale process has now been completed, enabling XLMedia to focus on its core business activities in the Sports and Gaming sectors.
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