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Stock impact report

Vinyl Group to acquire Val Morgan Digital assets for $10.5m [Yahoo! Finance]

BuzzFeed, Inc. - Class A (BZFD) 
Company Research Source: Yahoo! Finance
Vinyl Group Ltd (ASX:VNL, OTC:JAXAF) is set to expand its publishing arm after striking a binding deal to acquire the assets of Val Morgan Digital from HOYTS subsidiary Val Morgan and Co. for $10.5 million. Val Morgan Digital sits within Val Morgan alongside Val Morgan Cinema and VMO, providing a suite of digital-led advertising solutions. Its portfolio includes well-known brands such as Fandom, POPSUGAR, BuzzFeed, Tasty, Vox Media and LADbible Group, collectively reaching millions of Australians each month. The consideration comprises $7 million cash and $3.5 million in Vinyl shares priced at the 15-day VWAP, with the scrip component subject to a 24-month escrow. Completion is expected in about one month, subject to customary conditions, including the novation of key partnerships and ANZ licences with BuzzFeed Inc., Fandom, LADbible Group and Vox Media. The acquisition materially lifts scale and accelerates VNL's strategy to build a diversified publishing business, with Val Mo Show less Read more
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