Digitalbox says Media Chain asset acquisition would put it in a "very strong position"
London, UK
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August 07, 2023 07:58 AM Eastern Daylight Time
Digitalbox PLC (AIM:DBOX) CEO James Carter speaks to Thomas Warner from Proactive after the digital media business announced an agreement to potentially acquire assets from Media Chain, which operates popular web social brands like "99 Problems," "The Life Shopping Network," and "Student Problems." The acquisition is currently in a testing or licensing phase, lasting until November 30th, during which Digital Box will assess the potential benefits of working with these assets and their follower bases to maximise engagement and extend their audience reach. Carter says he sees significant gains from the prospective acquisition. The addition of the new assets would increase Digital Box's Facebook followers from around 8 million to approximately 20 million, which could result in a substantial uplift in audience delivery across their brands. Notably, the acquisition offers audience fit opportunities that align well with their existing brands. Regarding the timeline for completing the deal, James expects it to be within a range of one to four months, with the goal of finalising it as soon as possible. James also discusses market conditions, saying that a challenging environment has persisted into the first half of 2023. However, Digital Box has been trading in line with its forecasts, adapting to the market conditions and working towards their projected targets.
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