Melbourne, Australia: Vinyl Group (ASX: VNL), Australia’s only ASX-listed music company, has executed a binding Heads of Agreement to acquire Mediaweek from Chattr Pty Ltd.
Mediaweek is a leading media trade publication in Australia in both readership and industry respect.
The company was founded in 1990 and has a monthly average readership of 300,000 unique visitors.
Mediaweek reports on the business of media, marketing and advertising in Australia and expands on
the trade media capabilities of the Company’s media arm, which includes B2B titles The Music Network
and Variety Australia.
Mediaweek also hosts a popular events calendar with Mediaweek100 and the
Next of the Best Awards, which celebrates industry leaders of today and tomorrow.
Vinyl Group will acquire the assets of Mediaweek in exchange for $500,000 in cash and $500,000 in shares
valued at the fifteen (15) day Volume Weighted Average Price (VWAP) of Vinyl Group shares on the ASX for
the period immediately preceding the Completion Date.
Upon completion several Mediaweek employees will join Vinyl Group as part of the deal while its 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 unaudited revenues for the 2024 financial year amounted to $2.2M, with a proforma profit
of at least $350K as Mediaweek shares costs across Mr Thomas’ Chattr platform costs.
Vinyl Group expects to realise further and immediate profits through its integration efforts and synergies from existing capabilities within the Company.
Vinyl Group CEO, Josh Simons, said: “Mediaweek will join Vinyl Group with a mission to accelerate our trade media and events business in Australia and improve margins across these pillars.
This acquisition follows a review of our media arm earlier in the year, which identified several opportunities to enhance the
efficiency and reach of these operations.”
Vinyl Group to acquire Australia’s largest youth publisher The Brag Media for $8m