Media Corporation Further Developments

Media Corporation PLC, the owner of the now defunct Purple Lounge, is now maneuvering its assets in order to derive an income from its Intabet software platform earlier than planned.

Therefore the company intends to appoint "re-sellers to act as additional channels to market and, where appropriate licences exist, operate the platform for or on behalf of betting operators and licencing all or part of the software on a white label basis" to which it would charge the operator royalties and licence fees.

The first product to be made available through the resellers, anticipated to launch on Saturday March 30, 2013, is a skills based game titled "Goal Millions" offering the opportunity to win a weekly GBP 1 Million jackpot on a GBP 1 stake for predicting the fastest six goals to be scored across a selection of football matches.

Phil Jackson, Chairman of Media Corp said: "We're working hard as we enter the commercialisation phase of the Intabet platform and related technology, I'm pleased with the discussions we are having alongside our resellers with operators and others and we are looking forward to announcing additional partnerships in the very near future."

In the meantime we are continuing to reduce unnecessary costs, explore funding options and seek new customers both in the UK and around the world as well as continue to positively engage and address inherited, historical issues," Jackson added.

According to the Media Corp announcement, it has secured a loan agreement of GBP 250 000 which will be used for working capital. The Lender has reportedly agreed in principle to make up to GBP 500 000 available.

Also recently, the final platform testing has delayed the launch of the company's BetComparer website to April 22, 2013 - a website that will have a full suite of sports to be rolled out according to the sporting calendar.