Digitalbox PLC Acquisition of The Poke (1604I)
December 01 2022 - 1:00AM
UK Regulatory
TIDMDBOX
RNS Number : 1604I
Digitalbox PLC
01 December 2022
1(st) December 2022
Digitalbox plc
("Digitalbox" or the "Company")
Acquisition of The Poke
Digitalbox plc, the mobile-first digital media business, which
owns leading websites Entertainment Daily, The Daily Mash and The
Tab is pleased to announce it has acquired the business and assets
of thepoke.co.uk ("The Poke") for an undisclosed sum.
About The Poke
Launched in 2002, The Poke is a British satirical website which
aims "to provide an antidote to the daily grind" and deliver
fast-turnaround topical distractions. The Poke handpicks the
funniest content on the web to enable its users to spend" time well
wasted". While the Digitalbox-owned Daily Mash creates its own
satirical spins on the news and modern British life, The Poke
focuses on finding and editorialising others' funny takes for wider
consumption. The Poke is known for distributing viral videos which
are often Auto-Tune edits of British current affairs, and its
website can be found at https://www.thepoke.co.uk/ .
The Acquisition
The Poke provides a great opportunity for Digitalbox to
strengthen its position within the satire/comedy space. The Poke
has over 3 million monthly sessions, which when combined with The
Daily Mash's 3 million monthly sessions, will establish the
Digitalbox as the UK's leading destination for online humour.
The Poke generated revenue of c.GBP0.17m in its financial year
to November 2021. Notwithstanding this, Digitalbox expects to be
able to materially enhance the contribution from The Poke in the
medium term through integration with its Graphene technology
platform.
The Company's Graphene technology platform has already helped to
deliver a strong return on The Tab investment. Since Digitalbox
acquired The Tab in October 2020, it has seen significant profit
growth, with revenue for the six months to 30 June 2022 up 52% as a
direct result of the Graphene ad stack being deployed. Once the
integration of The Poke is complete, the Company will look to
optimise the site's position, before exploring further
opportunities for growth on the site.
James Carter, CEO, Digitalbox, said: "The Poke is another
excellent addition to our growing portfolio of exciting digital
assets. We have a proven and successful approach to integration
which releases value from the assets we acquire. The inclusion of
The Poke, alongside The Daily Mash and The Tab, creates
opportunities to grow our audiences across the sites and strengthen
the Company's market position which is led by Entertainment
Daily."
John Plunkett, Editor of The Poke said: "I have enjoyed running
this independent UK institution over the last five years as we have
built on the success of the brand first brought to life in 2002. As
the site continues to prosper in these uncertain times, we see it
as a perfect moment to become part of a company with an enhanced
tech infrastructure presenting further opportunities for growth
alongside the Daily Mash."
END
Market abuse regulation: This announcement contains inside
information for the purposes of Article 7 of Regulation (EU) No
596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR") .
Enquiries:
Digitalbox c/o SEC Newgate
James Carter, CEO
Panmure Gordon Tel: 020 7886 2500
(Nominated Adviser, Financial Adviser
& Joint Broker )
Alina Vaskina / James Sinclair-Ford (Corporate
Advisory)
Rupert Dearden (Corporate Broking)
Alvarium Capital Partners (Joint Broker) Tel: 020 7195 1400
Alex Davies / Hugh Kingsmill Moore
SEC Newgate (Financial Communications) Tel: 07970 664807
Robin Tozer / Molly Gretton / Max Richardson digitalbox@secnewgate.co.uk
About Digitalbox plc
Based in Bath, UK, Digitalbox is a 'pure-play' digital media
business with the aim of profitable publishing at scale on mobile
platforms.
Digitalbox operates three trading brands, "Entertainment Daily",
"The Tab" and "The Daily Mash". Entertainment Daily produces and
publishes online UK entertainment news covering TV, showbiz and
celebrity news. The Daily Mash produces and publishes satirical
news content. The Tab is the UK's biggest youth culture site
fuelled by students.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQWPGRCGUPPGMU
(END) Dow Jones Newswires
December 01, 2022 02:00 ET (07:00 GMT)
Digitalbox (LSE:DBOX)
Historical Stock Chart
From Apr 2024 to May 2024
Digitalbox (LSE:DBOX)
Historical Stock Chart
From May 2023 to May 2024