theScore, Inc. (TSX Venture: SCR) (“theScore” or the “Company”) today confirmed the closing of its $16 million private placement financing, allowing the company to accelerate the development and marketing of its mobile sports apps.

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Sportsnet’s The Score today announced it has reached a two-year multiplatform agreement with FIBA, the International Basketball Federation, for the rights to eight marquee FIBA events across television, online, and mobile.

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Rogers Media today received final regulatory approval from the Canadian Radio-television and Telecommunications Commission (CRTC) to acquire Score Media Inc., which has been held in trust since October 19, 2012. With today’s approval, Rogers Media will integrate the operations and financial results of Score Media effective immediately.

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theScore, Inc. (TSX Venture: SCR) (“theScore”) announced Tuesday the financial results for the three and six months ended February 28, 2013 in accordance with International Financial Reporting Standards (“IFRS”).

FISCAL 2013 Q2 OPERATIONAL HIGHLIGHTS

  • In January, theScore’s mobile platforms achieved a record 4.2 million monthly active users.
  • Average monthly active users of theScore’s mobile platforms exceeded 3.9 million in Q2 F2013, while average monthly active users for its flagship application for iPhone grew by 63% over the comparable period in F2012.
  • In January, theScore re-launched its popular app for Android; the app was based on the design of theScore’s critically acclaimed iPhone and iPad apps and included a completely re-designed interface with an emphasis on fantasy sports, to give users the ultimate mobile sports experience.
  • In February, theScore announced the re-design of its BlackBerry® app for the BlackBerry® 10 platform. It was built using BlackBerry® 10 development best practices and design patterns, giving it the clean look and the brand consistency of other mobile applications by theScore.

“We find ourselves at the start of an exciting new chapter in the history of theScore,” said John Levy, Chairman and CEO, theScore, Inc. “We’ve just celebrated record mobile monthly active user numbers and also moved to a fantastic new office space, which perfectly fits our unique, creative and innovative company culture. theScore is now perfectly positioned to further capitalize on the industry-wide explosion in mobile advertising spending.”

FISCAL 2013 Q2 FINANCIAL RESULTS

Revenue for the three months ended February 28, 2013 was $1.1 million compared to $700k in the same period the previous year, an increase of 57%. Revenue for the six months ended February 28, 2013 was $2.6 million compared to $1.7 million for the same period the previous year, an increase of 53%.

EBITDA loss for the three months ended February 28, 2013 was $2.6 million compared to $1.1 million in the same period the previous year, and $4.7 million for the six months ended February 28, 2013 compared to $2.6 million for the same period the previous year. This difference was primarily as a result of an increased investment in personnel related to the development of theScore’s mobile apps as well as the impact of the Ontario Interactive Digital Media Tax Credit, which reduced EBITDA loss by $1.0 million and $1.5 million for the same three and six month period last year.

For more information:

James Bigg

Manager, Communications

theScore, Inc.

Tel: 416.479.8812 ext. 2366

Email: james.bigg@thescore.com

 

Tom Hearne

Chief Financial Officer

theScore, Inc.

Tel: 416.560.0528

Email: tom.hearne@thescore.com

 

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theScore, Inc. (TSX Venture: SCR) (“theScore” or the “Company”) announced Tuesday it has entered into subscription agreements in connection with a $16 million non-brokered private placement of 100,000,000 Class A Subordinate Voting Shares at a price of $0.16. The financing round will allow the Company to accelerate the development and marketing of its mobile sports platforms while further expanding its advertising sales and marketing capabilities in the United States.

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