Media Corp Puts On Sale To Fund Acquisitions

Media Corp, a publicly-traded internet content vehicle and advertising network operator, has put its domain on the market, saying it will use the proceeds to buy other online gamling and advertising properties.

The company has a track record in buying catchy domain names and trhing to sell them for a profit after building rudimentary websites underneath. It’s earlier sold for £3.62 ($5.7) million, for €400,000 ($532.84/£338.58) and, in 2008, told paidContent:UK it bought for £135,000 ($212.46) to stock it with sport news and video feeds before flipping it on.

CEO Justin Drummond, in his announcement, says: “Whilst the group has significant cash reserves, we have recently seen a number of exciting acquisition opportunities in the online gambling and online advertising space. The successful sale of will give the group significant financial resources to pursue these acquisition opportunities.”

Drummond says Media Corp had already received approaches for It’s now appointed domain warehouse Sedo to broker a sale.

Today, presents basic descriptive and tutorial information on a range of online gambling types, and links to games through ads and affiliates.

Media Corp could get what it hopes for – a big sale price for a snappy domain – as the online gaming industry is booming following recent UK deregulation. ranks #1 in Google (NSDQ: GOOG) for “gambling”.

Media Corp already has £2.2 ($3.46) million in cash. This month reported annual gross profit of £6.3 ($9.91) million on £25.6 ($40.28) million income – each up sevenfold from last year. EBITDA loss slimmed from £2.4 ($3.78) million to £618,000. ($972.58)

The group also operates casino business Purple Lounge, which it bought in October 2009. The AIM-listed company’s other properties include listings guide OnTheBox, UKHDTV and FlightComparison… all eponymously titled content plays. It also operates the Search Focus search ads technology and Eyeconomy web marketing house.