Ann: Vinyl Group to acquire Brag Media for $8M via $11M facility, page-2

Pretty huge acquisition, a bit to understand.

Richard White providing $8mil outlay to buy 100% of Brag Media, con note deal, seems savvy.

Brag owns thebrag.com, The Music Network, Tone Deaf, and Penske Media corporation titles rolling stones and variety in Aus/NZ. Definitely some big names there I've seen often.

Brag Media generated $8.39mil revenue, $334k net profit FY23. Revenue target for FY24 $12mil and $2mil EBITDA, if achieved a further payment of $2mil so there's a big incentive here.

Brag Media CEO Luke Girgis to stay on, with incentives aligned to see this a success.

I like it, massive boost for Vinyl groups cashflow moving forward and lots of synergies to compliment both sides.