Catena Media Announces Cost Reduction Following UK and Australia Divestments

Catena Media has begun a cost reduction initiative aiming for savings between €3.8-4.2 million. This move comes on the heels of the company’s recent divestment of its UK and Australian brands.

This new cost-cutting measure is over and above the €2.8 million decrease in yearly expenses, which is directly linked to the UK-Australia divestment declared on 3 August 2023.

The initiative to reduce costs is in alignment with the operational changes post the UK and Australian divestments. This was a strategic decision, unveiled in May 2022, aiming to further consolidate the markets where Catena Media is present. The result is a refined brand portfolio, which positions the business more strategically with a concentrated emphasis on North America in the igaming sector.

It is projected that about 90 percent of the mentioned cost savings will materialize by the end of the current year. The entire financial impact is anticipated to come into effect in the first half of 2024. A significant portion of these savings is expected to stem from optimizing support operations within Catena Media’s European branches.