Vinyl Group falls after revealing Val Morgan Digital deal

The Unmade Index kicked off March by dropping to yet another all time low, as most of Australia’s listed media and marketing stocks took a beating.

Most notably, Vinyl Group lost 4.5% after the Richard White-dominated publishing and platforms rollup announced it had agreed to buy Val Morgan’s digital publishing arm for $7m in cash plus $3.5m in shares.

Most of the Val Morgan Digital assets are licences to monetise overseas brands such as Buzzfeed, Ladbible, Popsugar  and Vox Media. The model matches that already adopted by Vinyl which has the rights to publish Rolling Stone and Variety locally.

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