Catena Media has begun the disposal of its businesses in the United Kingdom and Australia as part of a strategic decision to strengthen its footprint in the expanding North American iGaming and sports betting market. The decision is part of a comprehensive company-wide strategic assessment, and it aligns with Catena’s objective of establishing a strong and optimized presence in the dynamic North American market.
The divested assets will be transferred to Moneta Communications, a subsidiary of Seven Star Digital Company. This strategic transfer is intended to expand Moneta Communications’ impact in key markets and provide momentum for further breakthroughs in strategically important fields.
Christopher Russel, CEO of Moneta Communications, expressed enthusiasm about the acquisition, stating, “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.”
Among the trademarks transferred from Catena are Squawka and GG.co.uk, both of which have long histories. Catena Media CEO Michael Daly underscored the company’s commitment to developing its online sportsbook and casino affiliate businesses in North America, a commitment that would continue following the asset shift. Daly also revealed Catena’s future ambitions, stating the company’s intention to launch in North Carolina by 2024.
Catena Media’s strategic evaluation triggered a rebalance of its brand portfolio, which Daly sees as a reflection of the company’s enhanced operational focus. Daly expressed delight in leading the firm in this strategic path, emphasizing the satisfaction of finding a skilled buyer in a good position to nurture and oversee the brands’ future.
Catena Media continues to thrive, recently announcing a $5.4 million share repurchase program. With a firm commitment to the North American market, the company is well-positioned to deliver improved financial results and synergies in the coming quarters. Despite a little revenue downturn in Q2 2023, Catena Media continues committed in its quest of North American dominance.