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Media Corporation
- BY: Andrew Hore |
- POSTED: 11/04/2012 |
- COMMENTS: Add yours
Online gaming and advertising services provider Media Corporation has sold two more of its online portals and it is contemplating a potential reverse takeover of a gaming business.
Media Corp has received £250,000 for http://www.onthebox.com and http://www.forexspace.com and associated domain names. The former was loss making and the latter has recently been launched. The sites are valued on the balance sheet at £130,000 and their sale should save £350,000 a year in costs.
Delays in the opening of the Hippodrome Casino mean that the online joint venture will not get going in April as expected. It appears that the joint venture will begin in early summer.
At 0.97p a share, Media Corp is valued at £3.48m.
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