Digitalbox PLC (AIM:LON:DBOX), the mobile-first digital media company listed on AIM, has acquired the online assets of Walford News, a website dedicated to news, gossip, and spoilers about the soap EastEnders.
It is buying the website walfordnews.com and its associated Walford East Facebook (NASDAQ:META) page, which boasts approximately 475,000 followers.
Purchased for £50,000, the assets complement Digitalbox’s advertising-driven media model and fit with its strategy of building highly targeted digital platforms focused on entertainment.
The company, which owns popular brands such as Entertainment Daily, The Daily Mash, The Tab, and Emmerdale Insider, plans to integrate Walford News into its operations over the coming months.
A transitional services agreement with the vendor is in place for five months to assist the integration process.
Digitalbox stated that the Walford News assets will enhance its ability to engage audiences and expand its portfolio of entertainment-focused digital properties.
In the past year, the acquired business would have generated less than 1% of Digitalbox’s revenue. In August, it bought Emmerdale Insider, with further expansion initiatives reportedly in development.
Digitalbox also confirmed the appointment of Richard Spilsbury as chief financial officer and company secretary, effective January 1.