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An announcement from Jaxsta Limited ( (AU:VNL) ) is now available.
Vinyl Group has completed the $10.5 million acquisition of Val Morgan Digital’s assets, including key ANZ partnerships with BuzzFeed, Fandom, LADbible Group and Vox Media, formerly a direct competitor to Vinyl Media. The deal, funded via a $10 million shareholder loan, is expected to lift Vinyl Media’s revenue by about 73% and deliver an annualised pro forma EBITDA contribution of $2.5 million post-integration.
The combined digital portfolio is projected to reach roughly 47% of Australians online in entertainment and 51% in news, putting Vinyl Group’s audience scale in line with major players such as Nine and News Corp Australia. In conjunction with the acquisition, Vinyl has struck a cooperation agreement with The HOYTS Group to cross-sell outdoor and cinema advertising, and appointed HOYTS CEO Damian Keogh to its board as a non-executive director, while Linda Jenkinson has resigned from the board.
More about Jaxsta Limited
Vinyl Group Ltd is an Australian adaptive media and music technology company listed on the ASX, operating through its publishing arm Vinyl Media. The group focuses on digital media and cultural content, building audience reach across entertainment and news categories through partnerships and strategic acquisitions to compete with major national media organisations.
Average Trading Volume: 350,511
Technical Sentiment Signal: Hold
Current Market Cap: A$118.1M
Learn more about VNL stock on TipRanks’ Stock Analysis page.