ASX-list Vinyl Group has finalised its acquisition of media trade publication, Mediaweek, from Chatr Pty Ltd. The acquisition was completed through an Asset Sale Agreement, with Vinyl Group paying $479,140 cash and an additional $500,000 in shares.

As part of the acquisition, Vinyl Group said it has executed employment agreements with several key Mediaweek employees who will continue in their existing roles. Vinyl Group has begun the search for a new Managing Editor to lead Mediaweek’s editorial. In the interim, former Publisher James Manning will serve as Acting Managing Editor alongside General Manager Sarah Chapman and Head of Commercial Andrew Mulready.

Trent Thomas will remain with Chatr Pty Ltd and the Chatr website, the assets of which are not included in this acquisition. Mediaweek's unaudited revenues for the 2024 financial year amounted to $2.2M, with a proforma profit of $350,000. Vinyl Group expects to realise further and immediate profits through its integration efforts and synergies from existing capabilities within the Company.

The shares are valued at the 15 day Volume Weighted Average Price (VWAP) of Vinyl Group shares on the ASX for the period immediately preceding the Completion Date which is $0.09655, totalling 5,178,624 ordinary shares. These shares will be subject to a twelve (12) month escrow from the date of issue.

Josh Simons, CEO of Vinyl Group, said, "It’s a pleasure to welcome Mediaweek to Vinyl Group as we look to grow our trade media offering alongside The Music Network and Variety Australia. We have begun the search for a new Managing Editor to lead Mediaweek’s editorial, but in the meantime I look forward to working with former Publisher James Manning who serves as Acting Managing Editor alongside General Manager Sarah Chapman and Head of Commercial Andrew Mulready, and the wider Mediaweek team. Now that this deal has completed, I expect to be able to share further updates in the weeks ahead."

Manning said "As Mediaweek starts a new chapter I’m pleased to be continuing my long association with the publication, continuing to work in a sector I know so well. It’s always been important to have trusted relationships with all parts of the media sector and Vinyl Group is keen to build on those. I started my career as a music journalist so to now be part of Australia’s only ASX-listed music company, and one that works with so many great entertainment brands, makes perfect sense."

Vinyl Group's diverse portfolio includes Vinyl.com, Vampr, Jaxsta, and The Brag Media.