Val Morgan Outdoor (VMO) has acquired brand Active Media Group, the publisher of Fitness First magazine. While VMO wouldn’t reveal how much the deal was, speculation in the Australian Financial Review puts it just under the $20 million mark.

Active Media Group (AMG) was formerly owned by private equity group Oaktree Capital Management. Okatree owns the Fitness First Australia franchise, of which AMG is a subsidiary. AMG publishes the Fitness First magazine along with the accompany app. It also owns various digital content, screens and TV.

It’s the second similar announcement in the past week, with outdoor company oOh!Media buying the majority of Junkee Media for $11 million.

The acquisition for VMO means the company extends its digital out of home (DOOH) offering to a digital content and publishing business, said VMO managing director Anthony Deeble.

“I’m delighted to have acquired a forward-thinking multi-media business that engages traditionally hard-to-reach, high-value audiences in the premium, health and wellbeing category,” he said.

“This strategic acquisition also marks the differentiation of our portfolio. We are transforming from a purely DOOH business to one with a digital content and publishing arm and that’s very exciting.”

The acquisition will see AMG’s assets merge into the VMO DOOH portfolio, creating a new stream called VMO Active. The company already operates in shopping centres, petrol stations, office towers ad can add health and fitness environments like gyms to its repertoire. It will also manage an online content portfolio and the Fitness First magazine.

Fitness First Australia’s managing director, Pete Manuel’s added: “We are excited for Active Media Group to become part of such a progressive company. VMO’s broad reach and innovative use of technology makes them one of the leading media groups in the country, able to take AMG from strength to strength.”