365 Media Group Acquired By Sky TV
Published: Friday, December 15, 2006 Online-Casinos.com
365 MEDIA GROUP ACQUIRED BY SKY TV
TV broadcaster says deal will improve exposure to promote gaming and betting activities
The British television broadcaster BskyB has confirmed the conclusion of a deal through which it will acquire the 365 Media Group, until recently known as UKbetting, for a total consideration of GBP 96 million.
365 Media runs gambling and sports Web sites including Football365 and Sportlinglife.com which reach over 9 million users each month. BSkyB launched its broadband service in July and a deal to buy 365 Media is a good fit with its expansion of online content.
In a statement on the agreement, Sky said the acquisition would bring it "improved exposure to the fastest growing segment of the UK's advertising market and a broader platform to promote Sky's gaming and betting activities". BSkyB is 39 percent owned by Rupert Murdoch's News Corp.
365 Media recorded a 16 percent rise in gross profits for the six months to the end of June 2006 and a positive cash balance of GBP12 million for the same period.
Peter Dubens, chairman of 365 Media, said: "Since the admission of 365 Media to AIM in August 2001, we have created a significant player in sports websites and online gaming. We acquired extremely good online brands in the aftermath of the dotcom crash, including websites such as Football365.com, SportingLife.com and Cricket365.com and an odds comparison website (Oddschecker.com).
"We are now one of the largest online sports networks in Europe, attracting over 9 million discerning and dedicated sports fans per month to our network of websites."
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