oOh! completes sale of Junkee Media to RACAT Group


oOh!media today announces that youth-orientated digital publishing business, Junkee Media, has been acquired by the RACAT Group.

Junkee Media joins RACAT’s portfolio of publishing, production and digital assets which includes Australian Geographic, game developer and publisher Runaway Play as well as Northern Pictures, the production company behind compelling TV shows such as Love on the Spectrum, Hardball and Lukewarm Sex.

The decision to divest Junkee Media follows the conclusion of a strategic review to focus on the core business of Out of Home media to capitalise on future growth opportunities.

oOh! will retain branded content and production arm Junkee Studio, which will be relaunched as a part of a new creative proposition in early 2022.

Junkee Media’s editorial, sales and implementation teams will move across to RACAT as part of the transaction.

Junkee Media will be headed up at RACAT by experienced media entrepreneur Piers Grove. “It will be a huge thrill and responsibility to lead Junkee in the months and years to come,” said Grove. “Our mission at RACAT is to own and operate media companies that in one way or another add something to our world and Junkee does exactly that. We are huge fans of Junkee’s brands, its loyal audiences and the huge array of content it delivers every day. We value the exceptional team that make Junkee the go-to news and entertainment source for millions of young Australians every month.”

David Haslingden, Executive Director of RACAT, added: “Junkee is a business we are excited to invest in growing and expanding to meet its audience in new and responsive ways. We are grateful to oOh!, Neil Ackland and the entire team for the opportunity to take this exciting brand into the future.”

Neil Ackland, Chief Content, Marketing and Creative Officer at oOh! said: “As a co-founder of Junkee it was critically important we found the right business that is aligned to its core values. I know that RACAT will be a wonderful home for the team and I’m excited to watch them and Piers take it to new heights. My journey with Junkee now comes to an end as I continue with oOh! and I want to thank the brilliant Junkee team for their outstanding work and wish them and RACAT every success in the future.”

The commercial terms are not material to oOh!media Limited’s reporting obligations and are not being disclosed.

Jacanda Capital was the lead adviser to oOh!media on this transaction.

More from oOh! News.