Vinyl Group to Acquire Pedestrian Group From Nine Entertainment Unit

MT Newswires Live

Jun 09

Vinyl Group (ASX:VNL) is set to acquire 100% of Pedestrian Group from Nine Digital, a subsidiary of Nine Entertainment (ASX:NEC), in a non-cash transaction structured without scrip issuance or ongoing royalty obligations, according to a Tuesday filing with the Australian bourse.

Completion is expected on June 15, after which the company will take full operational control and implement a restructuring projected to contribute around AU$600,000 to AU$800,000 in pro forma earnings before interest, taxes, depreciation, and amortization in fiscal 2027, per the filing.

The acquisition broadens Vinyl Media's presence in youth, entertainment, and culture-driven digital media, increasing its reach to about 53% of Australians online, the filing added.

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