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Catena Media appoints new CFO after 2019 losses

Catena Media has appointed Peter Messner as the group's new CFO, effective from 1 April.

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Messner has extensive experience within the finance and gaming industry, including senior roles at Bwin, while his most recent role was CFO at Swedish media conglomerate Modern Times Group’s MTGx division.

He will replace Erik Edeen, who has served as interim CFO since succeeding Pia-Lena Olofsson in January 2019.

Edeen is credited with rebuilding and transforming Catena’s entire financial structure and will continue to support the affiliate in upcoming strategic projects.

Catena Media CEO Per Hellberg said: "With a well-functioning financial infrastructure in place, due to Erik’s contributions, our playing field is now ready to welcome Peter as CFO.

"His wide-ranging experience in key online media and gaming industries will fortify Catena Media’s operations in the years to come."

The appointment follows Catena reporting a full-year loss for 2019 of €10.5m ($11.9m), with that loss increasing 134% year-on-year. Last month’s financial results also showed a 2% decrease in annual revenue, to €102.8m.

In terms of Q4 2019, revenue was down 3% to €26.6m, with EBITDA decreasing by 2% to €11.8m.

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