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Media Corp announces Intabet acquisition; shares plummet

16th May 2012 9:43 am GMT

PurpleLounge.com owner Media Corp has terminated acquisition talks with Gaming Media Group in favour of a £1.53m bid for Intabet, with Intabet’s management taking over from Media Corp’s chairman and interim CEO who have both resigned with immediate effect.

Media Corp said Wednesday that the termination of talks with Gaming Media Group (GMG) has no bearing on the merits of GMG, but rather that the acquisition of Intabet is considered a preferable deal for shareholders as [...]

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