Catena Media Sells Sports Betting Brands to Moneta Communications

Catena Media has recently announced the sale of its UK and Australian online sports betting brands. The company is selling these brands to Moneta Communications, a UK-based sports betting affiliate, for a total of €6 million. This move is part of Catena Media’s strategy to focus more on the North American market.

The deal includes the sale of all assets related to Catena Media’s UK business, which features sports betting brands like Squawka and GG.co.uk. Additionally, Moneta Communications will acquire all shares of Catena Media’s wholly owned Australian subsidiary. The transaction is set to be completed by the Q3 of 2023.

The purchase price of €6 million will be divided, with €5.8 million paid in cash upon closing of the deal, and the remaining €0.2 million paid within 75 days after the closing. The majority of these funds will be used to pay off existing debt, which will help Catena Media reduce its overall debt and improve its financial position.

Following an impairment charge of €15.2 million due to the sale, the intangible assets of the divested businesses were valued at €6 million as of June 30, 2023. Over the past year, these businesses collectively generated about €4.5 million in revenue and around €0.9 million in EBITDA.

Catena Media expects that this sale will lead to significant cost savings of around €2.8 million annually. These savings will be realized immediately upon the completion of the deal, contributing positively to the company’s financial outlook.

This agreement is another milestone on our journey to focus the business on the North American online sportsbook and casino affiliation market. The strategic review has led us to reshape our brand portfolio to reflect this closer operational focus, and I am pleased to be delivering further progress in that direction.

I am also delighted that we have found a buyer that is well placed to build on the success of our UK and Australian sports and casino brands and will offer them the scope and support they need to develop and grow.

— Michael Daly, CEO, Catena Media

We are happy to have acquired these established and successful brands from Catena Media. This acquisition allows Moneta Communications, as part of the OneTwenty Group to further our plan to acquire fan focused, profitable digital media assets that cover major sports in important markets. We are excited to further develop and grow the assets and the team.

— Christopher Russel, CEO, Moneta Communications