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.
Ann: Vinyl Group to acquire Brag Media for $8M via $11M facility, page-2
Add VNL (ASX) to my watchlist
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| Open | High | Low | Value | Volume |
| 12.0¢ | 12.5¢ | 11.5¢ | $21.97K | 182.8K |
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| 2 | 75623 | 11.5¢ |
Sellers (Offers)
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| 12.0¢ | 106190 | 3 |
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| Last trade - 16.10pm 28/05/2024 (20 minute delay) ? |
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| 12.0¢ | 12.5¢ | 12.0¢ | 36770 | ||
| Last updated 11.20am 28/05/2024 ? | |||||
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