XLMedia Announces Leadership Redundancies and Plans for Liquidation
As part of this process, CEO David King will be made redundant on June 30, 2025.
XLMedia has announced significant changes following the sale of its North American assets to Sportradar in October 2024 for $30 million. With the sale of “materially all of its assets,” the company will now enter the liquidation phase.
As part of this process, CEO David King will be made redundant on June 30, 2025. Additionally, Marcus Rich (independent non-executive chair), Julie Markey (senior independent director), and Ory Weihs will step down on the same date.
The company’s shares will cease trading on AIM, the London Stock Exchange’s sub-market, on May 13, 2025, six months after the asset sale.
Transition Plans and Leadership Changes
Peter McCall, currently the company secretary and general counsel, will join the board in January 2025 after completing the necessary due diligence. McCall will work on a reduced-time basis to oversee the group’s operations leading up to and beyond June 2025.
XLMedia stated, “It is envisaged that Cédric Boireau will continue in his role as a non-executive director during this period.”
