Josh Simons.
ASX-listed Vinyl Group has completed its acquisition of Val Morgan Digital for $10.5 million, made up of $7 million in cash and $3.5 million in shares.
The company says the deal with the HOYTS Group entity gives the media and music technology group a digital audience scale comparable to Nine and News Corp Australia.
Val Morgan Digital generated $10.7 million in revenue in 2025, representing a 73% increase in Vinyl Media revenue. The combined entity is expected to contribute $2.5 million in annualised EBITDA (earnings before interest, taxes, depreciation and amortisation).
The acquisition brings ANZ licences for BuzzFeed, Fandom, LADbible Group and Vox Media into Vinyl.
Combined with Vinyl Media's existing portfolio -- which includes Concrete Playground, Tone Deaf and licences for Rolling Stone, Variety and POPSUGAR -- the group's online audience reach is expected to reach 47% of Australians in the entertainment category and 51% in news.
"The completion of the Val Morgan Digital acquisition materially enhances Vinyl Group's scale and positions us to execute on our Adaptive Media strategy at scale," said Josh Simons, CEO of Vinyl .
“This is a defining step in building one of Australia's most influential culture, technology and media platforms.”
HOYTS Group CEO Damian Keogh has been appointed to the Vinyl Group board as a non-executive director. Linda Jenkinson has resigned from the board effective immediately.
Vinyl Group also entered a cooperation agreement with Val Morgan covering outdoor and cinema advertising cross-sell capabilities.
The acquisition was funded through a $10 million loan facility from non-executive chairman Robert Kenneth Gaunt at RBA plus 5% per annum over five years.
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