Destra Buys Magazines For $2 Million; Will Extend Digital Presence

Australian digital media company Destra has purchased two magazines as part of the companies strategy “buy content and build communities”. Oyster Magazine is a high-end design and fashion publication while 3D World is a free music publication in Sydney. The total paid was AU$1.75 million cash (US$1.57 million) and AU$0.5 million (US$0.45 million) in equity. Both publications have online communities, which Destra plans to grow, and the company also plans to use the content in other broadcast and digital media that it owns.
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