Brave Bison (AIM:BBSN) shares charged 12% higher after the UK digital media and marketing group struck a deal to acquire an influencer marketing business from Rupert Murdoch's News UK for up to £7.6 million.
The deal to buy The Fifth Group will see News UK, part of News Corp (NASDAQ:NWSA), become a top 10 shareholder in the company, with an initial 3.1% stake.
The Fifth, which delivers influencer marketing, social strategy and 'creator-led campaigns for the likes of YouTube, Disney+, UKTV, FOX Entertainment and The Times, will be merged into Brave Bison’s SocialChain unit. The acquired business generated £6.2 million in revenue in the 12 months to last June.
Under the agreement, News UK will be paid £0.58 million in cash, along with 40 million new shares and up to £6 million delayed payment based on performance over three years. A further £200,000 of shares will be acquired by News UK in the market.
It is Brave Bison's third acquisition of 2025 and is expected to be earnings-enhancing in the current year.
Chairman Oliver Green said: “We are delighted to announce this acquisition and to welcome News UK, part of the global media company News Corp, as a significant shareholder in Brave Bison. News UK has a culture of innovation, and we're honoured to have been chosen as custodians of The Fifth in driving the business forward.”