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DigitalBox PLC on Friday said it has completed the acquisition of the digital assets of 99 Problems, 90’s Life and The Life Network Shopping from Media Chain Group Ltd.
Digitalbox is the digital media and owner of brands such as Daily Mash, The Poke and The Tab.
At the start of August, DigitalBox said it had bought the assets from Media Chain for $800,000.
However, on Friday, it said it completed the acquisition at improved terms for a total of $600,000 in cash. Further, the final agreement resulted in the 99 Problems Instagram page and 90’s Life Facebook page forming part of the acquisition. Student Problems, part of the original package, was removed.
DigitalBox expects the acquisition to be immediately earnings enhancing on completion.
DigitalBox shares were untraded at 5.50 pence each in London on Friday morning.
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