LBG Media (LBG)

Sector:

Media

Index:

FTSE AIM All-Share

110.00p
   
  • Change Today:
    -4.00p
  • 52 Week High: 115.50
  • 52 Week Low: 63.50
  • Currency: UK Pounds
  • Shares Issued: 209.08m
  • Volume: 992,259
  • Market Cap: £229.99m

LBG Media acquires Betches in $24m deal

By Josh White

Date: Wednesday 18 Oct 2023

LONDON (ShareCast) - (Sharecast News) - LBG Media, the parent company of LADbible Group, announced the acquisition of Betches Media on Wednesday, on a move aimed at expanding its presence in the digital media landscape.


The AIM-traded firm said Betches Media, a US-based media brand established by women, specialises in creating and publishing digital content catering to women.

It said the acquisition, valued at an initial $24m in cash, would be financed from its existing cash reserves, with the potential for an additional $30m in cash payments contingent on Betches meeting specified revenue and profitability targets through 2026.

The board said the acquisition of Betches represented a strategic step towards broadening its reach within the US - the world's largest advertising market.

It said Betches Media's digital publishing expertise, with a focus on millennial and Gen Z women, complemented LBG's existing portfolio.

The acquisition was expected to make a substantial contribution to the company's revenue and adjusted EBITDA, while the acquisition was being fully funded from LBG Media's existing financial resources.

Betches would bring the incorporation of new brands into LBG Media's portfolio, expected to expand both LBG's existing 100 million US following and its overall audience among women.

Finally, the directors said the acquisition would open up clear opportunities for cross-selling within LBG Media's expanded portfolio.

They said the synergies between the two entities would provide avenues for leveraging each other's strengths to maximise growth and value.

"The joining of LBG Media and Betches is an incredibly exciting milestone in the group's story, progressing a key element of the strategy that we set out at the time of IPO, and since" said chief executive officer, Solly Solomou.

"This deal brings together two highly successful, growth-focused businesses with complementary brands and skills, similar cultures and amazing teams, to create a world-class proposition.

"The opportunity for the enlarged group is exciting, as we will be better positioned to capitalise on the significant US audience and advertising market."

At 0941 BST, shares in LBG Media were up 4.15% at 91.76p.

Reporting by Josh White for Sharecast.com.

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LBG Media Market Data

Currency UK Pounds
Share Price 110.00p
Change Today -4.00p
% Change -3.51 %
52 Week High 115.50
52 Week Low 63.50
Volume 992,259
Shares Issued 209.08m
Market Cap £229.99m

LBG Media Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
48.29% below the market average48.29% below the market average48.29% below the market average48.29% below the market average48.29% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Price Trend
49.48% above the market average49.48% above the market average49.48% above the market average49.48% above the market average49.48% above the market average
14.89% above the sector average14.89% above the sector average14.89% above the sector average14.89% above the sector average14.89% above the sector average
Income Not Available
Growth
73.57% below the market average73.57% below the market average73.57% below the market average73.57% below the market average73.57% below the market average
48.84% below the sector average48.84% below the sector average48.84% below the sector average48.84% below the sector average48.84% below the sector average

LBG Media Dividends

No dividends found

Trades for 14-Jun-2024

Time Volume / Share Price
09:10 54,298 @ 114.00p
09:10 400,000 @ 114.00p
16:35 1,610 @ 110.00p
16:35 803 @ 110.00p
16:35 5 @ 110.00p

LBG Media Key Personnel

CEO Alexander William Solomou
CFO Richard Jarvis

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