Last checked at 6 Feb 2024 07:00
6 February 2024
XLMedia PLC
("XLMedia" or the "Group" or the "Company")
XLMedia Announces Exclusive Partnership with Star Tribune
XLMedia Announces Commercial Partnership with Star Tribune Media Company, Largest Upper Midwest News Organization, to be its Exclusive Provider of Sports Betting Content
LONDON, 6 February 2024 - XLMedia PLC (AIM: XLM) the global digital media company that manages a portfolio of premium brands with an emphasis on sports and gaming in regulated markets, announces a commercial partnership with the largest US Upper Midwest news organization, Star Tribune Media Company. As part of this partnership, XLMedia will be the exclusive provider of sports betting commercial content for Star Tribune, which attracts more than 7 million unique monthly digital users. Based in Minnesota, Star Tribune's audience numbers are consistently ranked in the top five in the country amongst regional and national publishing peers.
This strategic partnership is another major win for XLMedia's Media Partnership Business (MPB) as it expands the Company's reach in Minnesota and neighboring states with a highly esteemed partner which is widely recognised for its journalism excellence. While there is no certainty around the timing of Minnesota approving regulated online sports betting, the state is ranked in the top five for Daily Fantasy Sports usage and has a sizable sports audience indicating a potentially robust market when the time arrives.
The partnership allows Star Tribune to tap into advanced revenue streams from Daily Fantasy Sports in Minnesota, as well as sports betting in Midwest legalized states such as Ohio, Iowa and Illinois. XLMedia will leverage its industry-leading media partnership model to create high-quality commercial content, manage commercial deals with regulated sportsbook operators, and implement proven monetization strategies.
David King, Chief Executive Office of XLMedia, commented:
"We are very pleased to partner with Star Tribune, an esteemed and highly respected media organization based in the US Midwest. In line with our strategy, this deal positions us well to continue to build on our MPB success and drive revenue in a key region of the US."
Paul Kasbohm, EVP and Chief Revenue Officer, Star Tribune commented:
"We're excited to partner with XLMedia to provide our readers with this highly engaging commercial content. XLMedia brings tremendous credibility and expertise, allowing us to stay ahead of the curve and offer readers the latest information to make their own informed decisions about this rapidly evolving space."
XLMedia plc David King, Chief Executive Officer www.xlmedia.com
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About XLMedia
XLMedia (AIM: XLM) is a leading global digital media company that creates compelling content for highly engaged audiences and connects them to relevant advertisers. The Group manages a portfolio of premium brands with a primary emphasis on Sports and Gaming in regulated markets. XLMedia brands are designed to reach passionate people with the right content at the right time.
About Star Tribune Media Company
Building on an extraordinary 156-year legacy that includes seven Pulitzer Prizes and hundreds of other awards, the Star Tribune Media Company is the Midwest's largest news organization and is an unrivaled force for journalistic excellence in Minnesota. The Star Tribune has a vision to create the leading model for local news in America - driving innovation in media to make every Minnesotan's life better. For more information, visit www.startribunecompany.com.