Acquisition of GRV Entertainment Group
07/11/2024 07:00
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RNS Number : 2575L Digitalbox PLC 07 November 2024
07 November 2024
Digitalbox plc
("Digitalbox" or the "Company" or the "Group")
Acquisition of GRV Entertainment Group
Digitalbox plc (AIM: DBOX), the mobile-first digital media business, which
owns leading websites Entertainment Daily, The Daily Mash, The Poke, The Tab,
TV Guide, and Emmerdale Insider, has agreed to acquire certain online assets,
including all associated intellectual property, of the Entertainment Group of
GRV Media Ltd ("GRV"). A three-month transitional services agreement with
GRV comes into effect from today to support the integration process.
The acquisition includes the purchase of three online assets of GRV, including
CelebrityTidbit.com; RealityTidbit.com; and TheFocus.news, and the transfer
to Digitalbox of eight employees of GRV that are attached to the websites
being acquired. The sites all operate an audience-led, advertising-focused
media model in common with Digitalbox.
Adding these websites to Digitalbox's growing portfolio of assets will
accelerate the Company's "Verticals Strategy". The strategy is to deliver
highly targeted sites, based around the Group's core competence,
entertainment, that benefit from fan bases delivering the kind of 'super
engagement' increasingly favoured by platforms, like Google and Facebook. In
August 2024, the strategy started with the launch of Emmerdale Insider, with
further launches and acquisitions planned.
The acquired sites have complementary positioning with Digitalbox brands, The
Tab, and Entertainment Daily. During the integration process, Digitalbox will
align its content archives and editorial operations with each of these, while
migrating them to the Digitalbox platform, monetised by the Graphene Ad Stack.
In the 12 months to 30 September 2024, the assets being acquired generated
revenue less than 3% of Digitalbox's revenue to 31 December 2023.
James Carter, CEO, Digitalbox, said: "GRV is a business we have admired for
some time, and we are delighted to reach this agreement. The sites and highly
skilled staff will help us expand, as we establish our position as an
entertainment powerhouse."
Vic Daniels, Executive Chairman, GRV, said: "As GRV Media has become more
focused on sports coverage in recent years, we have been looking to find a
good home for our entertainment properties. I have known James and Digitalbox
for several years, and I know that we share the same values towards our people
and brands. I am delighted that we could make this happen, and look forward to
seeing these websites thrive under their new ownership."
Enquiries:
Digitalbox c/o SEC Newgate
James Carter, CEO
Panmure Liberum (Nominated Adviser & Joint Broker) Tel: 020 7886 2500
James Sinclair-Ford
Rupert Dearden
Tel: 07786150915
Leander Capital Partners (Joint Broker)
Alex Davies
SEC Newgate (Financial PR) Tel: 07540 106 366
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 following trading brands, "Entertainment Daily", "The
Daily Mash", "The Tab", "The Poke", "TV Guide" and "Emmerdale
Insider". 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. TV Guide serves as the definitive guide to what is on TV. Emmerdale
Insider charts the twists and turns of this ever present British soap staple.
Digitalbox primarily generates revenue from the sale of advertising in and
around the content it publishes. The Group's optimisation for mobile enables
it to achieve revenues per session significantly ahead of market norms for
publishers on mobile.
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