Mediaweek to be acquired by Vinyl Group

Following much speculation, ASX-listed Vinyl Group has confirmed it will acquire media and marketing trade publication Mediaweek.

In an ASX announcement on Tuesday morning, the music company confirmed it had executed a binding heads of agreement to acquire Mediaweek from Chattr Pty Ltd.

Vinyl Group will acquire the assets of Mediaweek in exchange for $500,000 in cash and $500,000 in shares. The group confirmed that some Mediaweek employees will join Vinyl Group as part of the deal while current owner, Trent Thomas, will remain with Chattr Pty Ltd and the Chattr website, the assets of which are not included in this acquisition.

“Mediaweek will join Vinyl Group with a mission to accelerate our trade media and events business in Australia and improve margins across these pillars,” Vinyl Group CEO Josh Simons said.