BUZZ-Australia's Vinyl Group rises on acquiring Val Morgan Digital
Reuters
Yesterday
BUZZ-Australia's Vinyl Group rises on acquiring Val Morgan Digital
** Vinyl Group VNL.AX rises as much as 4.5% to A$0.093, highest since January 20
** Vinyl records retailer to acquire assets of Val Morgan Digital, a direct competitor to co's publishing arm Vinyl Media, for A$10.5 million ($7.4 million)
** Val Morgan Digital's assets include key partnerships, ANZ licences with BuzzFeed Inc., Fandom, LADbible Group, Vox Media
** About 386,000 shares traded, 1.3x the 30-day avg
** YTD, VNL gains 5.9%
($1 = A$1.4144)
(Reporting by Anjali Singh in Bengaluru)
((anjali.singh2@thomsonreuters.com;))
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