XLMedia completes personal finance portfolio sale
AIM-listed affiliate sells MoneyUnder30 to Northern Lights Media as it looks to US sports expansionw
XLMedia has completed the sale of its MoneyUnder30 domain and website to Northern Lights Media for $675,000 (£543,000).
The deal means that the affiliate has now completely disposed of its personal finance asset portfolio after deeming it as a non-core activity last year.
Last month, XLMedia offloaded a portion of the portfolio to MPD Media in a $1.3m all-cash sale. The deal comprised of domains and websites including Investor Junkie, Greedy Rates and Young and Thrifty.
In total, the two aforementioned deals and the additional sale of the DoughRoller domain and website realised a total cash consideration of $2.05m.
The cash will be used in the day-to-day operations of the business as XLMedia looks to expand its North American sports footprint.
In the year ending 31 December 2022, the personal finance arm generated revenue of $1.9m and an EBITDA loss of $1.3m.
XLMedia’s share price was down 0.5%, at the time of writing, to 8.8p. The affiliate’s share price has taken a hit in the year-to-date, with its stock down 45%.