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Sydney-based digital media company Vinyl Group (ASX: VNL) has snapped up Pedestrian Group from Nine Digital for a nominal consideration, picking up the youth media business that was valued at $100 million in 2018 when Nine took full control of the operation.
The acquisition, scheduled for completion on 15 June 2026, hands Vinyl Group a portfolio encompassing Pedestrian.TV, Pedestrian Jobs, Openair Cinemas and Pedestrian Studio, which collectively reach 9.4 million people monthly.
Pedestrian Group's reach across its owned, social and distributed platforms includes one million monthly readers, 75 million minutes of video content watched, and "strong followings" across Instagram, TikTok, Facebook, YouTube, LinkedIn and newsletters.
The addition of Pedestrian Group lifts Vinyl Media's Ipsos iris de-duplicated online audience reach from 51 per cent to 53 per cent of Australians online, further consolidating the company's position as a scaled digital media operator.
Pedestrian Group is expected to contribute between $600,000 to $800,000 of pro forma EBITDA to Vinyl in FY27.
The acquisition comes two months after Vinyl Group completed its $10.5 million acquisition of Val Morgan Digital, which delivered $10.7 million in CY25 revenue and an expected $2.5 million in pro forma annualised EBITDA.
“Pedestrian Group is one of Australia’s most recognisable youth media brands, with a distinctive voice, loyal audience and strong reputation in culture and entertainment," says Vinyl Group CEO Josh Simons.
"The addition of Pedestrian’s brand further rebalances Vinyl’s portfolio of cultural assets through a mix of licensed and wholly owned, original IP.
“The transaction also reflects the strength of Vinyl Group’s acquisition strategy.
"We are continuing to secure high-quality cultural assets through capital-efficient structures, validate our adaptive media flywheel, and build Vinyl into the acquirer of choice for subscale youth, culture and entertainment brands in Australia.”
Pedestrian Group generates revenue across display advertising, native content, production, video, programmatic, BVOD, affiliate and jobs-related activity.
The company was estimated to be worth just under $100 million in 2018 when Nine Entertainment bought the remaining 40 per cent stake in the millennial-focused media business from its co-founders Chris Wirasinha and Oscar Martin for $39 million.
Nine first acquired 60 per cent of the business for $10 million in 2015.
Pedestrian Group has undergone significant restructuring since those deals.
In July 2024 the business lost its CEO, shed up to 40 positions and dropped several international licensing arrangements including Vice, Gizmodo, Lifehacker, Kotaku and Refinery29.
Nine had confirmed a strategic review of Pedestrian following what it described as unsolicited interest in the asset, though the company noted at the time there were no guarantees a transaction would proceed.
For Vinyl Group, the deal deepens a rapid acquisition-led growth strategy.
The Val Morgan Digital transaction added BuzzFeed and Fandom licences to the group's stable, while the Pedestrian acquisition now bolsters Vinyl's owned-IP holdings with an established Australian youth media brand.
Pedestrian Group is expected to operate as a standalone brand within the Vinyl Media division following completion.
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