XLMedia divests $1.3 million in personal finance affiliate sites to MPD Media
XLMedia will sell a portion of its personal finance affiliate sites for $1.3 million in cash to MPD Media. The domains and websites being sold are owned by XLMedia subsidiaries, including Investor Junkie, Greedy Rates, and Young and Thrifty. The company plans to use the proceeds for day-to-day operations and to focus on the newly emerging US affiliate market, as outlined in their 2023 strategy. In support of this strategy, XLMedia will divest non-core activities, such as the aforementioned domains.
XLMedia is strategically refocusing on its sports and gaming business in both EU and North American markets. During FY2022, the personal finance division generated $1.9m in revenue, but incurred an EBITDA loss of $1.3m. The company has announced its intention to exit the personal finance sector by 2023, hence categorizing it as discontinued. Upon completion of the sale to MPD Media, XLMedia aims to sell any remaining personal finance assets, but with no assurance of a successful transaction.
In a recent interview with Gambling Insider, XLMedia’s President of North America, Kevin Duffey, shared insights on the company’s ambitions in the US affiliate market. He emphasized their belief in high-quality, highly engaged audiences on sports media and betting properties – whether owned and operated, or through media partnerships. Their goals are clear: to align with their partners’ long-term sustainability objectives and a strategic vision for the business.