Rumours circulating for some time that Pokerstars has a significant investment in the poker news firm iBus Media, which owns Poker News, were confirmed late Monday when the company posted an explanation on its website.
Emphasising that the relationship with Pokerstars is very much an arm’s length arrangement, iBusMedia revealed that things are going well for the company in a business sense, with increases in revenue and head count.
Consequently, and in support of a new acquisition strategy, the company feels it is right that it clarifies its relationship with Pokerstars, and advises that over the past seven years founder Antanas ‘Tony G’ Guoga has sold his equity to Pokerstars-The Stars Group and is no longer involved.
Pokerstars now owns an unspecified but majority shareholding in the company, the advisory reveals.
Jon Squires, a director of iBus Media, is quoted in the advisory, saying:
“iBus has always maintained its independence and will continue to do so. PokerNews will continue to be the voice of players and a promoter of online poker.
“This is an exciting time at iBus as we are growing the range and quality of the services that we offer our igaming partners. Several recent hires have brought increased depth to our management team and we are extremely optimistic about the group’s ability to continue its growth trajectory.
“We shall continue to work as hard as we always have to provide both players and clients with the best experience, as we shall continue to grow high value services for the igaming sector.”
Guoga founded Poker News 15 years ago, having bought the domain for $6,000.
https://www.pokernews.com/news/2017/10/ibus-media-ownership-and-strategic-direction-29262.htm