XLMedia sells finance websites to focus on betting and gaming30th May 2023 7:53 am GMT
London-listed affiliate marketer XLMedia has completed the sale of assets related to its personal finance business for $1.3 million.
The disposal includes domains and websites such as Investor Junkie, Greedy Rates and Young and Thifty, and is in line with the company’s strategy to exit non-core activities in order to focus on betting and gaming affiliate marketing.
The company also said Tuesday that it is in advanced talks to sell its remaining personal finance assets, which have been treated as discontinued operations in the financial results for 2022.
XLMedia’s personal finance assets generated revenue of $1.9 million in 2022 and an EBITDA loss of $1.3 million.
Proceeds from the sale will be used for general corporate purposes.
Shares in XLMedia plc. (AIM:XLM) closed at 9.00 pence per share in London Friday, prior to this morning’s announcement.