Swish acquires entertainment websites for $100k

Digital media company Swish Group (ASX:SWG) has acquired three music and entertainment websites from Destra Corporation for $100,000.

Swish has purchased, NiceShorts and TheScene. The sites have a combined online audience of 130,000 unique visitors per month and an email subscriber database of over 100,000 people.

Online music site has around 20,000 artists and 100,000 original songs. It served combined streams and downloads of around 260,000 in March alone.

The all-stock purchase will be paid for through the issue of 100 million new shares at $0.001 per share, Swish said.