‘We’re building a music ecosystem’: What Vinyl Group’s Brag Media acquisition is all about
In this trade media exclusive, Vinyl Group’s CEO, Josh Simons, sat down with Mumbrella’s Lauren McNamara to delve into the ASX-listed company’s decisions behind acquiring Australian youth publisher, The Brag Media.
In December, Vinyl Group (ASX: VNL) entered into an agreement to fully acquire The Brag Media and its network of mastheads of events – including Rolling Stone and Variety ANZ, for which it holds the ANZ licenses for.
Yesterday, the deal was completed.
Vinyl Group paid $8 million in cash to acquire the publisher, by way of investment from WiseTech Global’s CEO and founder, Richard White, with a further $2 million payable in cash or stock based on financial performance.
