Catena Media sells Australian and UK online sports betting brands

Catena will divest its UK and Australian units in a deal with Moneta.

UK.- Catena Media has signed an agreement to sell its UK and Australian online sports betting brands to the UK-based affiliate Moneta Communications for €6m The transaction, which is expected to close this quarter, covers all UK assets, which include the sports betting brands Squawka and GG.co.uk, and all shares in the group’s wholly owned Australian subsidiary.

Catena decided to refocus on the North American market following a strategic review communicated in May 2022. The deal involves €5.8m in cash on closing and €0.2m within 75 days of closing. Sale proceeds will be used primarily to repay debt, reducing the group’s leverage ratio.

Catena Media CEO Michael Daly said: “This agreement is another milestone on our journey to focus the business on the North American online sportsbook and casino affiliation market. The strategic review has led us to reshape our brand portfolio to reflect this closer operational focus, and I am pleased to be delivering further progress in that direction. 

“I am also delighted that we have found a buyer that is well placed to build on the success of our UK and Australian sports and casino brands and will offer them the scope and support they need to develop and grow.”   

Christopher Russel, CEO of Moneta Communications said: “We are happy to have acquired these established and successful brands from Catena Media. This acquisition allows Moneta Communications, as part of the OneTwenty Group to further our plan to acquire fan-focused, profitable digital media assets that cover major sports in important markets. We are excited to further develop and grow the assets and the team.”