Catena Media has engaged Carnegie Investment Bank to serve as its financial counsel. This decision arises as Catena investigates diverse strategic avenues, encompassing the prospective divestment of the entire enterprise.
Carnegie will aid Catena in assessing these possibilities, which are under consideration due to inquiries from external entities seeking to acquire specific holdings. A subset of these interested parties has even indicated a desire to purchase all of Catena’s remaining assets.
This disclosure represents a progression of Catena’s strategic evaluation that commenced in May 2022 and was broadened in August 2022. The firm’s emphasis has been on optimizing its activities and concentrating on the swiftly expanding and regulated North American market.
Although discussions and expressions of interest have taken place, Catena’s board has not yet obtained any official offers for the company or any of its assets.
It’s noteworthy that Catena launched this strategic review in May 2022, coinciding with the week the company declared record-breaking quarterly earnings of €45.2 million (USD $47 million).
Catena experienced an 11% revenue surge in the initial quarter, hitting €5 million versus the corresponding period the previous year.
The firm garnered attention in August by broadening its strategic assessment to encompass all European activities. This development follows last month’s announcement of Gaming Innovation Group (GiG) purchasing Catena’s casino affiliate sites, including Askgamblers.com, Johnslots.com, Newcasinos.com, and a handful of smaller web addresses for €45 million.