Xlmedia Regulatory News (XLM)

22 August 2023

XLMedia PLC

("XLMedia" or the "Group" or the "Company")

XLMedia Signs New Media Partnership Agreement in North Carolina Ahead of 2024 State Launch

XLMedia enters commercial partnership with WRAL.com to be its exclusive provider of sports betting content

XLMedia PLC (AIM: XLM) the global digital media company managing a portfolio of premium brands with an emphasis on Sports and Gaming in regulated markets, is pleased to announce that it has signed a partnership with Capitol Broadcasting Company, Inc., the owner of WRAL.com and wralsportsfan.com as the 'partner websites' ('WRAL.com'), a premium news brand based in North Carolina which attracts more than 4 million unique monthly users, to be its exclusive provider of sports betting content. This is in line with XLM's strategic objective to expand its North America footprint and Media Partnership Business (MPB).

The strategic partnership with WRAL.com is another major win for XLMedia's MPB as it deepens the Company's reach in North Carolina ahead of the state's anticipated online betting launch in 2024. North Carolina, the ninth most populous state in the US, is home to a passionate community of professional and collegiate sports fans, making it a prime market for sports betting content. The deal will allow WRAL.com to tap into new revenue streams, drawing on XLMedia's expertise in monetising highly engaged audiences through successful partnerships in the soon-to-launch sports betting states.

Additionally, the deal further enhances XLMedia's position as a market-leader in partnering with prominent publishers across the US and Canada, whilst providing access to high-quality commercial content and high-value advertiser relationships. The partnership is enhanced by WRAL.com's authority with its audience as a trusted, first-class news outlet. 

David King, Chief Executive Officer of XLMedia, commented:

"We are very pleased to be able to build upon our MPB success by adding another prominent publisher in a key state with strong presence for both professional and college sports. This is an important revenue opportunity for both businesses.

"In line with our stated strategy, this agreement furthers our efforts to expand our North America footprint in select markets to capitalise on the US's growing sports betting market."

Chris Weatherly, Vice President of Digital for Capitol Broadcasting Company, commented:

"WRAL Digital is excited to partner with XLMedia's experienced team to generate relevant and engaging sports betting content for our audience.

"We know the anticipation and demand around this content will be at an all-time high entering 2024, and being able to partner with XLMedia gives us a big advantage."

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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 WRAL.com's Parent Company, Capitol Broadcasting Company, Inc.

Capitol Broadcasting Company, Inc. is a diversified communications company which owns and/or operates WRAL-TV, WRAZ-TV, WRAL-FM, WRAL-HD2, WNGT-CD, WCMC-FM, WCMC-HD1, WDNC-AM, WCMC-HD2, WCMC-HD3, WCLY-AM, WCMC-HD4, Microspace, WRAL Digital and Wolfpack Sports Properties (a joint venture with Learfield) in Raleigh, NC; WILM-TV, WILT-LD and Sunrise Broadcasting in Wilmington, NC; The Durham Bulls Baseball Club, Bull City Hospitality and Coastal Plain League in Durham, NC; The Holly Springs Salamanders in Holly Springs, NC; the American Underground startup hub in Durham, NC; and real estate interests including the American Tobacco Historic District in Durham, NC, and Rocky Mount Mills in Rocky Mount, NC. Brands - Capitol Broadcasting Company.