Media Corporation places subsidiary Eyeconomy into administration

AIM-listed Media Corporation has placed its wholly-owned subsidiary, the internet advertising business Eyeconomy, into administration with KRE Corporate Recovery LLP.

AIM-listed Media Corporation has placed its wholly-owned subsidiary, the internet advertising business Eyeconomy, into administration with KRE Corporate Recovery LLP.

This news follows the group's announcement on December 12th that Eyeconomy was expected to make a loss for the division for the 15-month period ending December 31st 2012.

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The group reported that other trading operations were unaffected and continue to trade as normal. The company said it remains completely focused on development of the Intabet platform and new, complimentary technologies and products.

Media Corporation's shares were down 4.76% to 0.10p at 13:42 on Monday afternoon.

MF

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