British broker IG Group recently bought DailyFX from FXCM.
DailyFX for years had been a stable generator of business for FXCM, and it is fair to say that it wouldn’t have considered selling the site if it wasn’t for the debt burden FXCM has due to the SNB issue and the resulting Leucadia deal.
IG paid $40 million for the site while FXCM continues to get advertising space targeting North American audiences. Bear with me while I work through some of the numbers to arrive at an estimated fair value for the publishing operation.
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