13 Dec 2007 07:00
YooMedia Plc
Disposal of "Dateline" Subsidiary
YooMedia Plc ("YooMedia" or "the Company"), the AIM-traded interactive media and games group announces the disposal of YooMedia Dating Group Limited which trades under the brand name Dateline.
Dateline operates an online and offline dating business, and has seven employees. The buyer is a consortium funded by Arc Management Holdings plc and Capital Ideas plc and is acquiring the entire issued share capital for ‚£ 250,000.
Earlier this year another dating subsidiary trading under the brand "Avenues" was committed to receivership. The disposal of Dateline now marks the final stage in YooMedia's exit from the dating sector and the further progression in management's policy of restructuring and repositioning the Group's operations for future growth.
Neil MacDonald, CEO, YooMedia Plc, commented:
"Our Chairman's statement in June discussed our efforts in the past year to change our operations to enable us to focus exclusively on those aspects of the business which will produce long term sustainable returns for shareholders.
"YooMedia's exit from the dating sector enables management to focus theCompany's resources on the growing digital market. This is a better commercialfit with YooMedia's technical expertise, its existing product range andrepresents a higher margin sector. The Company's strategic realignment nowleaves YooMedia better placed to grow its market share whilst maximisingprofits." 13 December 2007Enquiries:YooMedia PLC +44 (0) 207 462 0870 Neil MacDonald, CEO Nexus Financial Ltd +44 (0) 207 451 7068 Nicholas Nelson/John Mundy Nicholas.nelson@nexusgroup.co.uk Seymour Pierce Limited +44 (0) 207 107 8000 Mark Percy
YOOMEDIA PLC