Purple Lounge Parent Media Corp Looks to Acquire The Poker Channel

Media Corp, parent company to the popular online gambling venue Purple Lounge, is looking to take over The Poker Channel parent company Gaming Media Group (GMG), it was reported on Tuesday. 

Media Corp suspended its shares and issued a statement to the London Stock Exchange Tuesday morning upon announcing its plans.

The Poker Channel launched in 2005 and is seen in the United Kingdom and across 30 territories with a reach of 30 million subscribers.  Most recently, the channel signed on to air programming in France, Mexico and Argentina. 

In January, Media Corp got rid of its underperforming publishing assets including the TV listings service onthebox.com.

- Aaron Goldstein, Gambling911.com