Strategic Expansion in Australian Media
Vinyl Group Ltd has announced its acquisition of Time Out Australia, acquiring it from Time Out England for nominal consideration. The acquisition, set to complete on 24th June following a 14-day cooling-off period, aims to enhance Vinyl's media presence in Australia.
The acquisition includes a long-term franchise agreement with Time Out England. Under this agreement, Time Out England will receive ongoing royalties from the Australian market, initially set for five years with provisions for automatic annual renewals.
In tandem with the acquisition, Vinyl has completed a $2.4 million capital placement to support the integration of Time Out Australia. This funding round was led by a strategic cornerstone investor, reflecting confidence in Vinyl’s expansion strategy.
Time Out's Impact on Vinyl
Time Out Australia is set to be earnings accretive from FY27, contributing positively to Vinyl Group's EBITDA. Vinyl aims to leverage Time Out’s premium cultural assets to expand its reach in the Australian digital media market.
Josh Simons, CEO and Executive Director of Vinyl Group, stated, "This is a highly strategic acquisition that brings one of the world's most iconic culture brands into the Vinyl Media portfolio."
Vinyl’s acquisition strategy aims to consolidate media assets such as Concrete Playground, enhancing its ability to connect audiences with cultural experiences across Australia. The integration will boost Vinyl’s internet audience reach to about 55% of Australians.
Time Out is recognised as one of the world’s most notable urban culture brands, featuring in areas like food, travel, entertainment, and city discovery. Its assets are highly complementary to Vinyl’s existing platforms.
Following the acquisition, Vinyl is poised to become a leading partner for international cultural digital assets, specifically for sub-scale operators looking to maintain a presence in the Australian market.
An investor webinar is scheduled for 10:30am on 11th June to discuss the acquisition and its implications. Interested parties can register on Vinyl's website.
