Catena Media has retained Carnegie Investment Bank as its sole financial consultant. This appointment comes as the firm evaluates a range of strategic alternatives, including a possible divestiture.
Multiple entities have indicated interest in purchasing some or all of Catena Media’s holdings. This includes interest in the assets that remain following the completion of the company’s current optimization efforts.
Catena Media initially disclosed this strategic assessment in May 2022, subsequently broadening it in August 2022. The organization has declared its aim to concentrate on the “swiftly expanding, regulated” North American market.
Although discussions are proceeding and external parties have expressed interest, Catena Media’s Board of Directors has not yet received any official bids for the company or its assets.
It is noteworthy that Catena Media commenced this strategic review in the midst of an unprecedented quarter, with the company reporting €45.2 million (USD $47 million) in revenue for the first quarter of 2022.
Catena experienced an 11% revenue surge in the initial quarter of 2023, attaining €5 million. This coincides with the firm’s declaration of a broadened strategic assessment encompassing its European activities.
In the preceding month, Catena garnered attention when Gaming Innovation Group (GiG) procured their casino affiliate platforms, including Askgamblers.com, Johnslots.com, Newcasinos.com, and a selection of smaller web addresses, for a sum of €45 million.
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