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Media Corporation

  • BY: Andrew Hore |
  • POSTED: 24/12/2010 |

Online gaming and advertising group Media Corporation says that both sides of its business have made a strong start to the year to September 2011.

Online advertising division Eyeconomy has record bookings for the start of the financial year. There was a 1m contract renewal with Express Newspapers in November and other new long-term advertising contracts have been secured.

Purple Lounge, the gaming part of the business, has more than trebled its daily visitors to 14,200. The rate of increase in new customer sign ups is similar. Average daily active casino players have increased by 150%.

Management hopes to complete the sale of the portal in the first quarter of 2011 and the cash will be used to finance acquisitions.

At 2.9p a share, up 0.28p, Media Corp is valued at 9.82m.

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