Digitalbox PLC (AIM:DBOX), the media group that owns The Daily Mash, is to acquire the web and mobile platform assets of TVGuide.co.uk Limited.
Digitalbox will pay £550,000 from its existing cash resources for the acquisition. The addition of TVGuide.co.uk, an established dedicated interactive UK TV listings brand, is expected to immediately enhance Digitalbox’s earnings.
Digitalbox will integrate TVGuide.co.uk onto its Graphene technology platform, which it has successfully deployed on The Daily Mash and The Tab as part of their respective acquisitions and integrations.
TVguide founder Chetan Damani will remain on a consultancy basis to ensure a smooth transition and editorial operations will remain unchanged. Damani said TVGuide.co.uk is “going to a great home”.
"The acquisition of TVGuide.co.uk is another excellent addition to our growing portfolio of digital assets. It is an exciting business with considerable potential and an established brand. Following the acquisitions of The Daily Mash and The Tab, we have an established process of integrating assets onto our Graphene platform, and we are confident we can quickly grow the site's revenue and increase its profitability,” said James Carter, the chief executive officer of Digitalbox.