Catena Media (ASX:CATME) announced the initiation of a cost reduction program anticipated to optimize its group operations following the sale of its UK and Australian brands.

The cost reduction is forecast to be between EUR 3.8 and 4.2 million.

The primary method for achieving this reduction will be by streamlining support functions at Catena Media’s European operations.

It is expected that approximately 90% of these cost reductions will be realized by the end of this year, with full impact to be achieved in the first half of 2024.

Catena Media is a company that specializes in providing high-quality online lead generation.