Proposed Acquisition and temporary suspension o...

Proposed Acquisition and temporary suspension of trading on AIM

Media Corporation PLC

16th April 2012

Media Corporation Plc

("Media Corp" or the "Company")

Proposed Acquisition and temporary suspension of trading on AIM

Media Corp notes the press speculation over the weekend in respect of the proposed acquisition of Gaming Media Group Limited (“GMG”). The directors can confirm that they are in advanced discussions with GMG with a view to acquiring it. Were Media Corp to make the acquisition of GMG it would be deemed a reverse takeover under the AIM Rules for Companies (“AIM Rules”) and be subject to shareholder approval.

The Company has yet to commence formal due diligence on GMG and, once heads of terms are signed, will take a period of time the outcome of which may result in the acquisition not proceeding. Assuming final terms are agreed, a shareholder circular comprising an Admission Document under the AIM rules would be sent to shareholder convening a general meeting to approve the acquisition.

The existing ordinary shares of the Company will be suspended from trading on AIM from 10:15am today. Trading in the existing ordinary shares will recommence at the earlier of the publication of its Admission Document in respect of the acquisition or confirmation that the Company is no longer proceeding with the acquisition.

GMG is an online gaming company which combines one of the world’s largest TV channel dedicated to gaming and betting, The Poker Channel, with one of Europe’s leading online gaming brands PokerHeaven.com. Further details of the acquisition and GMG will be set out in due course as and when heads of terms are agreed.

Further announcements will be made as and when appropriate.

Contacts:

Media Corporation Plc	Â	Â	Â	Tel: [phone]
Justin Drummond – Chairman Sara Vincent - CEO
Nilesh Jagatia – Group Finance Director
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Northland Capital Partners Limited				Tel: + 44 20 7796 8800
Luke Cairns / Rod Venables (Nomad)
Katie Shelton (Joint Broker)
XCAP Securities				Tel: + 44 207 101 7070
John Grant / Karen Kelly (Joint Broker)
Bishopsgate Communications				Tel: + 44 20 7562 3350
Deepali Schneider / Natalie Quinn
[e-mail]

Notes to editors:

Quoted on the AIM market of the London Stock Exchange, Media Corp is a leading online gaming and media group.

The Group has two principal divisions:

Online Gaming – Media owns Purple Lounge, www.purplelounge.com a leading European online poker casino operator. With over a 120,000 registered customers, Purple Lounge provides an excellent user experience through a combination of the latest technology and best in class customer service.

Advertising Network – Eyeconomy specialises in mass reach campaigns to up to 50 Million unique consumers per month via its own proprietary ad-serving and tracking technology for clients including AOL, Dell and American Express, www.eyeconomy.co.uk

Further information can be found on the company's website, at www.mediacorpplc.com