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(Sharecast News) - Digitalbox announced the completed acquisition of the Life Network's digital assets from Media Chain Group on Monday, for total consideration of £0.2m.
The AIM-traded firm said the deal included a £20,000 licence fee paid in March, and a further £180,000 in cash on completion.
It said the assets, which included the Life Network's Facebook and Instagram pages, had now been transferred to Digitalbox, boosting its combined social media following to more than 26 million.
The acquisition was made through wholly-owned subsidiary Digitalbox Publishing, and was intended to support the development of Royal Insider, one of the company's existing titles.
Following a period of successful testing and strong trading across its wider portfolio in the first half of 2025, the board said the acquisition would be earnings enhancing for the full year.
Digitalbox owns a suite of mobile-first media brands including Entertainment Daily, the Daily Mash, the Tab, and TV Guide.
At 1450 BST, shares in Digitabox were down 2.35% at 4.15p.
Reporting by Josh White for Sharecast.com.
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