Jaxsta Limited (AU:VNL) has released an update.
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Vinyl Group, Australia’s only ASX-listed music company, has announced its acquisition of Concrete Playground Pty Ltd for $5 million, aiming to accelerate positive cash flow by six months. This strategic move, combining cash and shares, will enhance Vinyl Group’s media division and broaden its commercial reach. The acquisition is expected to significantly boost operational efficiencies and elevate the company’s capabilities, contributing to a forecasted $1.5 million in pro-forma EBITDA and over $4 million in revenues for 2024.
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