The management of Media Corp has to pay the players of the Purple Lounge Poker because these players have been stranded by the company and they have a lot of funds that they need the company to pay. On another matter, the management has succeeded to settle the litigation that was filed against their company on the hands of CD Casino.com Ltd. CD Casino.com has been looming around the company since its debacle started.
Media Corp has stated that the company has settled with CD Casino in return for fifteen million of its shares. This litigation that was filed by CD Casino was based on grounds of an alleged breach of contract on Media Corp’s side. This breach was committed by a former subsidiary of Media Corp, Gambling.com.
The announcement stated that the board of management of Media Corp has finally reached the above mentioned settlement with CD Casino. The settlement was done in order to settle the legal claims filed by CD Casino. This legal claim was filed against Media Corp alongside its former subsidiary that breached the contract, Gambling.com. CD Casino agreed to settle the legal claims for the amount of fifteen million shares. After the settlement, there aren’t any pending litigations or legal claims against Media Corp.