XLMedia PLC (AIM:XLM, OTC:XLMDF) said it is exploring a potential sale of its personal finance division as part of a restructuring already underway.
The media company, which has increasingly focused on sports and gaming content, said it was in talks with “a number of potential stakeholders”. It added that there can be no assurance that any offer will be received, nor as to the terms on which any such offer may be made.
“These actions reflect the company’s decision to prioritize the allocation of resources to its core business and remain focused on fully capturing the North American sports and gaming market opportunity while restructuring its European sports and gaming operations to seek maximum shareholder value,” the company said. : in the statement.
Last month’s half-year results showed North American sports grew to 68% of revenue as operations spread across a total of 16 US states, with the sports vertical accounting for 76% of the total as group turnover increased by 38% and made 44.5 million US dollars.
The gaming business was said to have stabilized after consolidating the portfolio to focus on four core brands and seven in total.
Investors will be able to hear more about the US and European sports and games business from new CEO David King, Chief Financial Officer Caroline Ackroyd (both appointed this year) and other senior executives at the Capital Markets Day event on February 1. which will also be broadcast live and recorded for later viewing.