Days after gutting its Mediaweek editorial team and acquiring youth publisher Pedestrian, Vinyl has secured an agreement to buy Time Out Australia from its British owner.<\/p>\n
Vinyl will take over the operations of Time Out Australia and enter a long-term franchise agreement with Time Out England.<\/p>\n
Time Out is one of the largest entertainment and listings media brands in the UK; its magazines and websites have been relied upon by generations of people to plan their nightlife and entertainment.<\/p>\n
Its parent company Time Out England is now pursuing a franchise model for selected local markets by partnering with media operators that have local audience insight, commercial relationships and operating scale, in return for an ongoing royalty fee.<\/p>\n
Vinyl Group said it has secured $2.4 million from strategic investors to provide capital and support to the company\u2019s consolidation of its acquisitions of Pedestrian and Time Out Australia.<\/p>\n
Time Out Australia joins Vinyl Media\u2019s existing portfolio of youth and culture media brands, including Concrete Playground, BuzzFeed, Rolling Stone AU\/NZ and Mediaweek.<\/p>\n
The licence includes operation of Time Out branded websites across Australian cities, social media platforms and events and experiential activations.<\/p>\n
Time Out Australia has historically been profitable and Vinyl Group expects it to positively contribute to its EBITDA in FY27.<\/p>\n
\u201cThis is a highly strategic acquisition that brings one of the world\u2019s most iconic culture brands into the Vinyl Media portfolio. Time Out strengthens our position at the intersection of content and real-world experiences, and expands our reach into high-value audiences across Australia. It is another important step in building a scaled, premium publishing platform,\u201d Vinyl Group CEO and executive director Josh Simons said.<\/p>\n
Rob Biagioni, CEO of Time Out Media, said: \u201cAustralia is an important territory for Time Out, and we\u2019re proud of the business and audience we have built over many years. Vinyl has a strong track record of growing premium media brands and connecting audiences with real-world experiences, making them the ideal partner for Time Out in Australia.<\/p>\n
\u201cWe are excited to work together to continue growing the Time Out brand and helping Australians discover the very best of their cities.\u201d<\/p>\n
Last week, Vinyl Group made redundant editorial director Sarah Chapman and several Mediaweek editorial staff redundant. Yesterday, it revealed plans to acquire youth publisher Pedestrian from Nine.<\/p>\n
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