Nine Entertainment Sells Youth Publisher Pedestrian Group
Nine Entertainment has sold its youth-focused publishing arm, Pedestrian Group, to the independent publisher Vinyl Group for an undisclosed fee.
Nine CEO Matt Stanton announced the sale to staff, confirming the publisher is moving on from the business. In a related divestment, Nine also sold its stake in Future Women, a professional women's workplace platform, to managing director Helen McCabe.
The sale follows a strategic review of the business, conducted amid a tough advertising market.
Background and Restructuring
The sale marks the end of a difficult period for the Pedestrian Group. In 2024, Nine implemented significant cost-cutting measures, including job cuts at Pedestrian and the exit from several third-party publishing deals with outlets such as Gizmodo, Vice, and Refinery29.
Pedestrian's former CEO, Matt Rowley, left the company during this cost-cutting exercise.
Statement from Nine
Matt Stanton explained the decision by stating that Pedestrian Group would be best placed for growth under Vinyl Group. He noted that Vinyl Group is "eager to work with the team to continue momentum."