Vinyl Group reveals it is spending $1.6m buying a domain from a shareholder
Welcome to an end-of day update from Unmade. Today: loss-making entertainment industry player Vinyl Group buys a $1.6m domain.
If you’re not a paying member of Unmade, you’re missing out on the full experience.
Upgrade today.
Vinyl Group spends $1.6m on ‘prudent step’ of buying domain
Music publishing and platforms player Vinyl Group today told the ASX that it will issue $2m worth of stock to one of its major shareholders to get ownership of a high value domain.
Topics
$1.6 mil for a domain name from a company on uncertain financial ground. That is certainly a decision.
Is this to give the liquidators something to sell off when the fire sale happens?
…to sell back to the investor for half the price?