No surprise. Neo Media Group has announced that it yesterday made the decision to stop its commitment to ASG Media.

“ASG Media has already been under strong financial pressure prior to Neo era. We did a lot of work with the great British team to improve the bottom line but all our efforts and achievements were annihilated by the bankruptcy of Setanta, which resulted in a loss of close to 40% of our revenues in the middle of one of the strongest media crisis. This, in no way, means that we will not get involved again in the UK market in the future, but rather that, given the current state of affairs, we see no short-term prospect of positive developments in the UK for the time being” said Christian Vaglio-Giors, CEO of the Neo Media Group.

Neo Media Group’s strategy is now to concentrate on its assets on existing markets to deliver better mid-term results and to pursue towards the current positive trend on revenue at a double digit growth.