Good Information Articles

Media Corporation plc Acquires Travel Portal Operator Flight Comparison Ltd.

London, England (PRWeb) February 3, 2007 -- The Board of Media Corporation plc ("Media Corp or the "Company") a leading online media group, is pleased to announce the acquisition of Flight Comparison Limited ("Flight Comparison"), a travel portal operator and owner of flight comparison website Flight Comparison.

Flight Comparison, established in 2003, has grown into a profitable operator in the online travel business. Its principal flight comparison site www.flightcomparison.co.uk provides a comprehensive guide to scheduled flights worldwide, highlighting the best deals available. The site provides information for all major airlines including British Airways, American Airlines and Easyjet.

Income is generated through affiliate deals where travel operators and airlines pay Flight Comparison for completed flight bookings and related cost per click search advertising. The Company has top listings in the major search engines for the term "flight comparison" and other relevant search terms related to all of the flights destinations for which the site provides information. The website is built with the consumer in mind, so the flight search has been made simple and quick to use and the results are returned rapidly. The websites owned by Flight Comparison receive around 100,000 unique monthly visitors per month.

The business was founded by Oliver Ragg who has rapidly developed a successful travel portal business. Having graduated from the University of Birmingham with an Honours Degree and PhD in 1994, Oliver has held senior technical roles at both Honeywell Electronics and, more recently, Gold Medal Travel Group prior to establishing Flight Comparison in 2003. Oliver has entered into a three year employment agreement with the Company to continue as Managing Director of Flight Comparison.

The total consideration for the acquisition of the Company is comprised of an initial payment of £270,000 and an earn out consideration equating to 25% of adjusted pre tax profits generated over the three year period ending 30 September 2009. These further payments are capped at a total of £0.5 million.

The Company is also making an additional payment of £205,000 for the fair value of the Company's assets and liabilities, which on acquisition is £215,000, including £175,000 cash.

As further consideration Oliver Ragg has been granted warrants to subscribe for 500,000 shares in Media Corporation plc at a price of 6 pence per share.

In the accounts for the years ended 31 August 2006 and 2005, the Company generated profits before tax of £75,000 and £138,000 respectively. It is an anticipated that based on the current monthly revenues and the benefit of synergies provided by Media Corp that profits before tax for the 2007 financial will show a significant improvement over the 2006 financial year.

Justin Drummond, Chief Executive, Media Corp said,

"Following our recent acquisition of Result Online Limited, a personal finance portal operator, this acquisition is another significant step forward for Media Corp. It fits perfectly with our previously stated strategy of further diversification into the lucrative personal finance and travel markets. We are now effectively three businesses in one - we have significant media ownership with our market leading websites including Creditcardexpert.co.uk, Onthebox.com, and Freedeal.co.uk, a mass market online ad network with a monthly reach of more than 30 Million people and best in class proprietary pay per click search technology. This acquisition further bolsters our media ownership business where we already have a strong foothold in the personal finance, gaming and general interest websites and has strong synergies with our ad network and search business."

"Media Corp now has critical mass and is fast becoming a very significant player in a sector where UK online advertising spend alone reached £2 billion in 2006."*

*Source: Internet Advertising Bureau (IAB)

Oliver Ragg, Managing Director, Flight Comparison said.

"Having built a successful business it is very exciting to be part of a fast growing and substantial Online Media Group that will give me the support I need to take the business to the next level".

"The online travel industry is fast growing and portals like Flight Comparison provide the consumer with useful information and the best deals available. Growth of this industry has been enormous over the past few years and I look forward to making Flight Comparison a substantial business in this exciting sector."

Enquiries:

Media Corporation plc        Justin Drummond, Chief Executive Officer
+44 (0)20 7618 9000            Paul Tuson, Group Finance Director

Canaccord Adams Limited    Mark Ashurst, Managing Director
+44 (0)20 7050 6500

Holborn PR                Trevor Phillips, Managing Director
+44 (0)20 7929 5599

Notes to editors:

Listed on the AIM market of the London Stock Exchange, Media Corp, is a leading internet media and advertising Company focused on search, web site publishing and media sales.

The company has three principal divisions:

Search Technology -- The vertical search specialists building sector specific search engines for advertisers to communicate in a highly targeted environment with their particular audience. All of our Search and Media products are powered by our own high performance proprietary technology. www.searchfocus.co.uk.

Publishing -- Media Corp has a diverse publishing division specialising in online media. Our impressive list of websites includes a number of market leading sites including www.creditcardexpert.co.uk, www.onthebox.com, www.freedeal.co.uk.

Media Sales -- Formed in 1996, Eyeconomy specialises in mass reach campaigns to over 30 Million unique consumers via its own proprietary ad-serving and tracking technology for clients including AOL, Dell and American Express. www.eyeconomy.co.uk.

www.mediacorpplc.com

# # #

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

MORE ARTICLES:

Work At Home Internet Home Business Opportunity
There are various opportunities for work at home Internet home business opportunities on the Internet Because of the Internet, there are many opportunities for people to be able to take care of their families and work from home and as well

Work From Home - Online Resource Center for Home Based Online Jobs and Internet Based Business
Welcome to Work from Home?s ?an online guide and resource website to help you Start and grow your Home based Job and Business. Please note that we are only offering information on Work from Home Jobs and Business opportunities. We are not offering you a job or a business tie-up. Please read through the website as you will find valuable information and resources to start and grow your home based business. www.homebasedonlinejobs.com

Business & Family Safety and Health Rating
For good reason, practically every endeavor in life is rated. I've seen ratings on who or what's #1 in business, industry, NFL, NBA, MLB, person of the century, athlete of the century, technology, restaurants, university, neighborhoods, travel destination, best looking, best movie, best book, etc.

The Best Internet Connection For A Top Home Internet Business
When it comes to working at your home business one of the most important things you will need is internet access Having a fast and relatively error free Internet connection is imperative for a person to be successful in working at home

Low-Income Families in Portland Will Soon Have Free Broadband Internet at Home
Cricket Will Provide Free High-Speed Wireless Internet to 100 Portland Families in Pilot Program with One Economy

Internet Home Based Business : Legitimate Work at Home Jobs Opportunities and Advantages
There are many advantages involved in choosing an internet home based business as your primary or secondary source of income Use these benefits to find a legitimate work at home jobs that suits your needs and desires

Travel Insurance When Pregnant Or Traveling With Children
There was a time when pregnant women would avoid traveling altogether, but these days women don't let pregnancy stop them from going abroad and having fun. Only you can decide whether the pros outweigh the cons when travelling while pregnant or with small children.

Internet Based Business: How Single Parents Could Earn Extra Income For The Entire Family
Are you a single parent who has been trying to support your children on a single income? If you have been having so much trouble making both ends meet with your present income, you might want to earn some extra money by setting up an internet based business. A big family with children can be very expensive and you definitely will need to earn some extra money to keep everyone comfortable. Having some extra money could really do wonders for you and your small children so you better start exploring other means of getting extra money for your children through an internet based business.

Making Time For Your Family and a New Internet Home Business
Starting your own internet home business can be a very fulfilling experience. It offers many new and exciting challenges, with the hopes of providing financial security for you and your family.

Families Mourning Children Travel to Nashville for July Compassionate Friends National Conference
The Compassionate Friends self-help support organization for families going through the natural grieving process following the death of a child is hosting its 31st national conference July 18-20 in Nashville, Tennessee. More than 1300 parents, siblings, and grandparents, as well as professionals who provide support, are expected to attend the conference. Highlights include well-known speakers, more than 100 workshops covering most aspects of grief following the death, a pre-conference Professional Outreach Day, and the Walk to Remember Sunday July 20 at 8 a.m. This conference is annually the largest in the United States aimed specifically for those left behind following the death of a child.

New Home Based Travel Businesses and Training Available for Retirees and Work-At-Home Parents
Affordable training is now being offered for those wishing to set up their own home based travel businesses. Program offers participants everything they need to get started quickly and affordably in this exciting market.

Home Based Internet Marketing Business - Staying Organized In Your Home Office
When working from home there is nothing more frustrating than not being able to find things when you need them. While most home business entrepreneurs see themselves as never having any time, you have to spend some of your time to organize things. If you can't daily, you should at least try for once a week, you should set aside some time to put things where it should be. Allot of people have a saying that there is a spot for everything and everything must be in its assigned place.

SoGoNow.com -- Home of the Best Travel Article Written for the Internet in 2006
SoGoNow.com travel magazine announced that frequent contributor Linda Fasteson has won First Prize for the Best Travel Article Written for the Internet from The North American Travel Journalist Association.

Online Magazine is Home to the Best Travel Writing on the Internet
For the second year in a row, SoGoNow.com is the home to the best travel article written for the internet as judged by the North American Travel Journalist's Association.