Lovin Media Group Transaction
07 Jun 2018)
Kouchin Holdings, an investment firm owned by entrepreneur Emmet O’Neill has increased its stake in Lovin Media Group to 85%. Kouchin, which first invested in Lovin Media Group in 2014 made the investment by acquiring the final 33% stake in the business held by the company’s founder, Niall Harbison. Mr. Harbison has now left the company which he set up in 2011.
This transaction follows the appointment in March of Jamie Crawford as CEO of the Group. Mr. Crawford is an experienced media professional and was CEO of Spin 1038 and SPIN South West for nine years.
Speaking today, Jamie Crawford said that the Group is on track for a turnover of circa €3 million in the current year and has been profitable for the past two years. The Group works with national and international advertisers including Diageo, Lidl, Renault, Supervalu, Centra and Ulster Bank. Lovin Media Group operates online publishing sites with operations in Ireland, Manchester, Saudi Arabia, Dubai, and Malta. Overall sites in the Lovin Media Group now generate approximately 10 million page views a month.
Mr. Crawford said that the company was exploring international opportunities as well as potential acquisitions. He said; “My mandate from Kouchin is to professionalise, commercialise, innovate and grow the business. Niall did an incredible job as founder and created a business with great potential. Kouchin have been very clear that they want to move on beyond the founder stage of the business, realise the potential of what we have and grow something of scale and value over the next five to ten years.”
Lovin Media Group was established in 2011 as a Dublin focussed site but has expanded in its national reach in Ireland and internationally in the years since. Sites within the Group now include LovinDublin.com, Lovin.ie, LovinManchester.com, LovinDubai.com, LovinMalta.com. Key elements of the formulae are similar across the Group with content focusing on local culture, food, entertainment, lifestyle, travel, and fashion. Content is optimised for mobile and delivered through the websites, Facebook, Twitter and Instagram.
Issued on behalf of the Lovin Media Group by Gordon MRM
Ray Gordon