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(Alliance News) - Media company Iconic Labs PLC on Tuesday said it has created an equally owned joined venture, Coalition Media Ltd, with Bacchus Creative Entertainment to provide marketing services.
Iconic Labs shares were trading 20% higher in London on Tuesday at 0.087 pence each.
Coalition has been established to utilise the industry leading expertise of the Iconic Labs team in understanding social media, digital content production and access to media platforms like GSN to assist clients of Bacchus.
Iconic Labs said the joint venture requires no financial investment from either party.
"We believe this is the start of a complementary and strategically beneficial partnership that fully utilises our expertise in digital media and access to media platforms in addition to Bacchus's expertise in music and events as well as strong client base," explained Iconic Labs Chief Business Officer Liam Harrington.
Bacchus partner Damon Bryant added: "As a creative agency with very diverse clients this partnership adds a new and very exciting dimension to what we can offer."
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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