ASX-listed Vinyl Group has fully acquired Australia's largest youth publisher, The Brag Media, in a deal worth $10 million.

The acquisition includes The Brag Media's network of mastheads and events, and is backed by a second round of investment from WiseTech Global CEO & Founder Richard White, amounting to $11 million in placement and debt facility.

The Brag Media is known for publishing outlets such as TheBrag.com, The Music Network, Tone Deaf, and Penske Media Corporation (PMC) titles, Rolling Stone and Variety in Australia and New Zealand. It reaches approximately 10 million users per month in the region with over 40 million monthly page views.

Vinyl Group will pay $8 million in cash to acquire 100% of The Brag Media and its subsidiaries, with a further $2 million payable in cash or stock based on financial performance. Unaudited Financial Year 2023 results show The Brag Media generated $8.39 million in revenues, including $334,824 in net profit.

The Brag Media CEO Luke Girgis will join Vinyl Group as Publisher and Managing Director of The Brag Media. Vinyl Group's existing portfolio includes music credits business Jaxsta, the leading music industry social-professional network and talent marketplace Vampr, and online record store Vinyl.com.

"Vinyl Group’s suite of products work together to empower participants of the music ecosystem and reach all corners of the creator economy, and we can’t wait to start working with the iconic mastheads that Luke and The Brag Media have successfully developed in Australia," Vinyl Group CEO, Josh Simons (left in pic), said.

"We’ve identified several impactful synergies between the two businesses that will deliver immediate cost efficiencies and revenue, including streamlining Vampr’s in-app ads business and leveraging The Brag Media’s impressive audience reach to bolster Jaxsta, Vinyl.com and Vampr in the market."

Girgis (right in pic) said the next phase in the evolution of The Brag Media will take place under the umbrella of Australia’s only ASX-listed music business, and said he couldn’t be happier about it.

"Right from the earliest discussions we had, it was clear that the Board, Josh and the team shared our vision for the future of the business, and I’m thrilled that they’ve made this commitment with us," he said.

White, who has been closely observing Vinyl Group's progress, commented The Brag Media has grown into one of Australia's most influential media and creative businesses.

"I have watched closely as Josh has built Vinyl Group's revenue and made substantial business gains since taking my initial investment," he said. "There’s no doubt that iconic brands like Rolling Stone and Variety make sense and add value to VNL. Combined under the leadership of Josh and Vinyl Group, the consolidated business and team will have a lot more growth levers and options."