XLMedia has started a restructuring process in its Personal Finance division. As part of restructuring, the global digital media company will “explore the potential sale of all Personal Finance assets.”
According to a recent company release, several potential parties are interested but no official offers have been accepted at this time.
XLMedia said in an official statement: "The process is currently underway, and the business is engaging with a number of potentially interested parties, however, there can be no certainty that any offer will be received, nor as to the terms on which any such offer may be made.”
XLMedia is gaming affiliate that manages a portfolio of brands focusing on sports and gaming throughout regulated markets. The company went on to say it will continue to pursue expansion in North America during restructuring.
The group concluded by saying: “These actions reflect the company's decision to prioritize resource allocation to its core activities and remain focused on fully capturing the North America market opportunity in sports and gaming while also rebuilding its European sports and gaming operations to seek maximum value for shareholders.”
XLMedia and Sportradar recently signed a multi-year partnership agreement. The deal will allow Sportradar to represent XLMedia as its official sports data provider.
Sportradar will offer several digital services and products under the terms of the partnership. In turn, XLMedia will utilize real-time sports data products through its North American and international sports properties.
Among those will include notable brands like Sportsbettingddime, saturdaytradition, saturdaydownsouth, CrossingBroad, EliteSportsNY and Canadian Sports Betting.
