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Media Corporation

  • BY: Andrew Hore |
  • POSTED: 12/12/2012 |

Media Corporation is refocusing on its technology operations and renaming itsef INTA.

The news knocked nearly one-quarter off of the share price and at 0.1p a share, Media Corp is valued at £890,000.

Intabet, which has developed a gaming software platform, was acquired in May 2012. Two new websites using Intabet technology, bet comparison site Bet Comparer and Mobet, are scheduled to go live on 1 March and 15 April respectively. The technology can also be sold to other operators.

Management says that the group has not been profitable for a long time and it has had to prop up its loss-making businesses. The company is closing and liquidating The Purple Lounge online gaming business following its poor performance.

Management is assessing how the online media agency Eyeconomy fits in with the new strategy. Trading has been tough and Eyeconomy will lose money in the 15 months to December 2012.

The full plan for the company will be published with the 15 months figures in March 2013.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2012_38.pdf

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