logo-loader
Iconic Labs PLC

Iconic Labs takes indirect stake in The Tab through investment in Medium Channel Media Ltd

Last year The Tab generated revenues of £1.28mln and Iconic Labs thinks a “significant increase” in revenue and profitability is possible in the "short term".  

Iconic Labs PLC -
The Tab is a UK youth and student news website

Iconic Labs PLC (LON:ICON) has taken a 24% stake in media investment firm Medium Channel Media Ltd (MCM) in exchange for management and consultancy services and a £150,000 loan for working capital purposes.

At the same time, MCM has agreed to buy Tab Media Ltd, which owns UK youth and student news website The Tab.

Under the terms of its deal with MCM, Iconic Labs said it will use its expertise to help The Tab sell advertising space more efficiently and to improve the site’s commercial presence and relationships with target brands. 

MCM will provide a minimum retainer revenue of at least £25,000 a month.

Iconic Labs said it believes its experience in building UNILAD, the news site founded by the company’s chief executive and chief business officer, will be “critical in ensuring the success of this strategy” to grow The Tab’s market share and bolster its financial performance.

"Given our experience in creating UNILAD, which started as a student publisher before we developed it into the world's largest social publisher with revenues of circa £ 10mln, we feel confident in our ability in adding value and increasing revenues at The Tab through our involvement once MCM has completed the acquisition,” said chief executive John Quinlan.

“We have always thought they had the most credible brand in the sector and we are looking forward to working on it through our agreement with MCM.”

Last year The Tab generated revenues of £1.28mln and Iconic Labs thinks a “significant increase” in revenue and profitability is possible in the "short term".  

It sees the potential to receive total revenue and cash payments of more than £150,000 through its indirect stake in The Tab.

Quick facts: Iconic Labs PLC

Price: £0.00

Market: LSE
Market Cap: £1.39 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Iconic Labs PLC named herein, including the promotion by the Company of Iconic Labs PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Iconic Labs CEO John Quinlan details new investment in The Tab

Iconic Labs PLC (LON:ICON) CEO John Quinlan caught up with Proactive London's Andrew Scott after announcing they've taken a 24% stake in media investment firm Medium Channel Media Ltd (MCM) in exchange for management and consultancy services. At the same time, MCM has agreed to buy Tab Media...

6 days, 12 hours ago

RNS

Holding(s) in Company

5 days, 13 hours ago

Management Services Agreement

6 days, 14 hours ago

Acquisition

1 week, 3 days ago

Second Price Monitoring Extn

2 weeks, 6 days ago

Price Monitoring Extension

2 weeks, 6 days ago

Second Price Monitoring Extn

3 weeks, 6 days ago

Price Monitoring Extension

3 weeks, 6 days ago

Q&A Document

3 weeks, 6 days ago

2 min read