Robert Kenneth Gaunt, the chairman and top 10 shareholder of ASX-listed media group Vinyl, has put up $10 million to partially fund the acquisition of Val Morgan Digital.
The unsecured facility has a term of five years and an interest rate of RBA plus 5% a year.
Proceeds will be applied to the acquisition of Val Morgan Digital ($7 million) and general working capital ($3 million).
The company said it expected to complete the acquisition “shortly”.
The deal is valued at $10.5 million, made up of $7 million cash and $3.5 million in shares.
Val Morgan Digital’s assets include key partnerships and ANZ licences with BuzzFeed, Fandom, LADbible Group, POPSUGAR and Vox Media.
Vinyl publishes titles including Rolling Stone, Variety and Refinery29.
Val Morgan Digital generated revenue of about $10.7 million in calendar 2025.
Vinyl, in the half year to December, reported revenue up 49% to $11.4 million and a net loss of $3 million, an improvement on the net loss of $6.9 million on the previous half year.
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