Sydney-based Digital Cinema is preparing to acquire Newcastle-based Audio Junction.

According to Digital Cinema CEO Paul Godfrey, the deal “should be finalized this week”.

Digital Cinema is Australia’s most successful online audio and audiovisual retailer, with the company now the # 1 account for multiple distributors.

Audio Junction was established in 1981. Based in Newcastle NSW, the company serves the growing Hunter region which expands as people move from cities to regional Australia.

ChannelNews understands that Digital Cinema is looking to grow its premium audio business through the acquisition of Audio Junction.

The company is owned by John Cornell.

Godfrey says he will comment further later this week.

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David Richards has been writing about technology for over 30 years. A former Fleet Street reporter, he wrote the award-winning Federated Ships Painters + Dockers Union series for the Bulletin which led to a royal commission. He is also a Logie Laureate for his outstanding contribution to television journalism with a story titled The Werribee Affair. In 1997, he founded Australia’s largest tech media company and, before that, the third largest PR firm which became the founding company of Ogilvy PR. Today he writes about technology and its impact on businesses and consumers.