Media Corp has issued its latest trading update with the next quarter set for a transition that will see the firm renamed Inta plc as well as the launch of two new products. For the duration of Q1 2013 the group will be focusing on a number of different points with the hope that all will be completed by the end of the period. Chief among these is the focus of the group being placed on existing technology that is already in place and the development of new ones. In this regard there will be an emphasis on commercializing them as soon as is practicable and it may help that the group is renamed Inta plc.
The update is the first since interim CEO Adam Fraser-Harris relinquished the reigns and Phil Jackson, chairman of the firm, is wearing the CEO hat until someone else decides to take on the poisoned chalice.
Jackson mentioned the roll out of new products in the trading update and this is one of the firm’s primary concerns going forwards. The first two to go live are Bet Comparer and Mobet on Mar. 1 and Apr. 15 respectively with more details slated to be released as we edge closer to each release. This fits with their strategy to “launch associated sites based on the core Intabet technology” and “licence it directly and through JV partners”.
To further bolster the company as a whole there will be the creation of a commercialization team as well as the appointment of experienced board members to add stability in the fields of technology, gaming and marketing. Media Corp’s non-core businesses, such as Eyeconomy, will be assessed fully with a view to an eventual disposal.
Players that lost money during the collapse of Purple Lounge, the online gambling site owned by Media Corp, will be heartened to know that they will look to resolve all and any legacy issues from before the acquisition of Intabet. It doesn’t give any specific assurances over player funds lost and the only other tidbit is that they “understand why affected Purple Lounge customers would, through the historical association, view an Intabet launch negatively”.
